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"I have consistently argued for the strongest policy accommodation available. With huge resource gaps, slow growth and low inflation, the economic circumstances warrant extremely strong accommodation"
- Charles Evans, Chicago Fed President (based on CNBC)
Pair's Outlook
The Cable is slowly gaining upward impetus after bouncing off a formidable support at 1.5263/44. Resistances, which will be most likely encountered at 1.5443 and 1.5538 are not expected to withstand bullish pressure, but to give in and thus pave the way towards attainment of 1.5620/67, where we may observe first significant correction before advancement resumption.
Traders' Sentiment
Majority of traders (58%) continue to hold bullish trades on GBP/USD, expecting the British Pound to gain in value relative to the Greenback, while 42% of traders preferred short-selling the currency couple. As for the orders placed, none of the types has an upper hand in terms of numbers, as 48% of them are buy orders and 52% are sell orders.
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