© Dukascopy Bank SA
- Morgan Stanley (based on Bloomberg)
Pair's Outlook
All last week GBP/USD pair was bounded by a downside trend line around the 1.6040 level and a few attempts to breach it were unsuccessful. Currently, the price moves up to retest the downtrend again and, if it is successful, the next resistances will be the weekly R1 at 1.6069 and than the upper Bollinger line at 1.6092.
Traders' Sentiment
Disproportion between the buy side and the sell side increases further, as today 32% of traders have buy positions and 68% have sell positions. Placed orders market also supports depreciation idea, as 43% of pending orders are buy and 57% are sell.
© Dukascopy Bank SA