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"We might see more QE but the impact on currency markets is likely to be far more muted than early on in the crisis when it was seen as a one-way carry trade"
- FXPro (based on Reuters)
Pair's Outlook
GBP/USD has managed to pierce through 1.5535/45 and should soon gain even more bullish momentum despite a considerable amount of formidable resistances that lie overhead. The initial level is situated at 1.5649/67, followed by an area at 1.5764/75, being a confluence of 200 day SMA, upper Bollinger band and weekly R2, which is unlikely to give in at the very first challenge.
Traders' Sentiment
The share of long positions has dropped down to 58% from yesterday's 63%. Accordingly, the portion of short trades has surged up to 42%, although the overall sentiment still remains bullish. As for the orders placed on GBP/USD currency pair, 43% of them are buy orders and 57% are sell orders
© Dukascopy Bank SA