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"This [BoE] easing is mildly positive for sterling"
- Barclays Capital (based on Reuters)
Pair's Outlook
The Cable has stalled just after penetrating 1.5536, but is capable of resuming bearish behaviour, being that in general technical studies point to the downside. An interim support currently lies at 1.5484, while the last resort en route to 1.5254 is situated at 1.5395/89. Resistances in the meantime may be found at 1.5583/1.5625 and 1.5698/1.5732, limiting possible near-term rallies.
Traders' Sentiment
Traders' sentiment is mixed towards GBP/USD, implying the market is yet uncertain with respect to the trend the currency will adopt in near future. The ratio between long and short positions is 51% to 49%. As for the orders, only 37% of them are to acquire the British Pound and the majority (63%) are to sell it against the Greenback.
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