GBP/USD went through 1.6066/45

Yesterday the Cable ran into a dense resistance zone that includes the monthly pivot point and 20 and 55-day SMAs. However, the currency pair, even though having trouble getting over it, does not seem to have fully lost the bullish impetus that emerged after a test of the support at 1.5898/71. Accordingly, GBP/USD has just opened a path towards the major down-trend resistance line at 1.6237/08.

The level of Sterling's popularity in the SWFX market suddenly dropped, even though lately it has been on the rise. Throughout its crosses the Pound-long positions constitute 33%, down from 36% 24 hours ago. Particularly in the pair with the U.S. Dollar, only 34% (39% yesterday) of traders believe the Sterling's price may surge.