© Dukascopy Bank
- U.K. Steel (based on WSJ)
пЃ® Industry outlook
GBP/USD has turned neutral and therefore is expected to act calmly for now. Resistances are located at 1.5752, 1.5796 and 1.5872. While supports should limit possible dips at 1.5560, 1.5500 and 1.5397.
пЃ® Traders' sentiment
Traders' sentiment is rather calm in GBP/USD market with no significant changes observed on Monday. Longs continue to be outweighed by shorts, being 44.31% and 55.69% of the market, respectively.
пЃ® Long position opened
While trading this pair, investors should pay attention to the immediate resistance level at 1.5647. If the pair manages to go through this level, further resistances are situated at 1.5713 and 1.5768.
пЃ® Short position opened
Major dealers are planning to partially close their short positions if the pair touches upon the first support level at 1.5526. However, if the bearish impetus proves to be strong enough, some of the positions could be squared off at S2 of 1.5471 and at S3 of 1.5405.
© Dukascopy Bank