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"This is sterling supportive in the sense that he has credibility and that he understands that financials are at the core of the U.K. economy, which will help the currency"
- Societe Generale SA (Based on Bloomberg)
Pair's Outlook
GBP/USD pair experienced a calm Monday trading session, what was a consolidation after the last week's huge gains. The price breached a few days high and peaked it 1 pip higher at 1.6051, but even after that the price remains in a very close distance to it and holds a huge probability to increase even further. As the price holds significantly bullish technical sentiments, further resistance levels might be 1.6086 with the monthly PP and 1.6133 with a historical resistance level.
Traders' Sentiment
Investors in GBP/USD pair rapidly reverse their position into shorts, as the bullish side of SWFX market shrunk till 38% and the bearish side reached 62%. Placed orders market brings some confusion, as both side have divided market equally: 50%/50%.
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