© Dukascopy Bank SA
"The lesser economic data from the UK have been discounted at present because they are unlikely to change the BoE's view"
- Moneycorp (based on Reuters)
Pair's Outlook
Despite insignificance of a resistance area at 1.5638/67 in the long run, the Cable did not manage to overcome it yesterday, but should challenge it once again in near future, which should then result in a bullish breakout and continuation of an upward advancement. Dips, in the meantime, are likely to be limited by supports at 1.5588/57 and at 1.5499.
Traders' Sentiment
SWFX marketplace liquidity consumers' sentiment index reveals indecision of traders with respect to emerging tendencies of GBP/USD, as the shares of bullish and bearish traders are nearly equal, being 51% and 49% of the market. At the same time the ratio between buy and sell orders is 44% to 56%, accordingly.
© Dukascopy Bank SA