Note: This section contains information in English only."Everything people are hearing from the UK is not positive for its currency."
- Pioneer Investments (based on Business Recorder)
Pair's Outlook
[ANNOUNCE]For the second day yesterday the British currency weakened significantly more than anticipated, completely breaching the post-Brexit consolidation trend, as even the support cluster around the July low of 1.2798 was unable to limit the losses.[/ANNOUNCE] According to technical studies the Cable is to continue sliding down today, with the main target being the monthly S2 at 1.2585. On the other hand, a poor reading of US fundamentals today could cause the pair to undergo a correction, possibly even climbing back over the 1.28 level. The base case scenario, however, is another slump towards 1.2650.
Traders' Sentiment
There are 64% of all open positions being long today (previously 63%), whereas the number of orders to purchase the Sterling dropped down from 56 to 47%.
Wed, 05 Oct 2016 06:15:04 GMT
Source: Dukascopy Bank SA
- Pioneer Investments (based on Business Recorder)
Pair's Outlook
[ANNOUNCE]For the second day yesterday the British currency weakened significantly more than anticipated, completely breaching the post-Brexit consolidation trend, as even the support cluster around the July low of 1.2798 was unable to limit the losses.[/ANNOUNCE] According to technical studies the Cable is to continue sliding down today, with the main target being the monthly S2 at 1.2585. On the other hand, a poor reading of US fundamentals today could cause the pair to undergo a correction, possibly even climbing back over the 1.28 level. The base case scenario, however, is another slump towards 1.2650.
Traders' Sentiment
There are 64% of all open positions being long today (previously 63%), whereas the number of orders to purchase the Sterling dropped down from 56 to 47%.