© Dukascopy Bank SA
- ANZ (based on FXStreet)
Pair's Outlook
Monday ended with the Sterling sustaining another loss against the US Dollar, but with the 1.3230 level, namely the post-Brexit's low, limiting the losses. The Cable remains weak, but a possibility of a rebound now exists, as technical indicators are giving mixed signals. Meanwhile, the Bollinger band acts as the closest resistance, located around 1.3445, but a surge much higher might also occur if the UK parliament decides to schedule a second EU referendum today. At the same time, any sharper downside developments should not exceed the 1.2942 level, where the weekly S1 is located.
Traders' Sentiment
There are slightly more long positions today (60%), compared to 56% on Monday. In the meantime, 54% of all pending orders are to purchase the British Pound (previously 48%).
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