GBP/USD surges after breaching a trend line

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Sterling hit a one-month high against the dollar on Monday on corporate and sovereign demand, although the possibility of a gloomy mid-year fiscal statement threatened to weigh on the pound"
- Reuters

Pair's Outlook
GBP/USD pair was bounded by a down-sloping trend-line for a long time and yesterday the price finally overcame it and surged till the upper Bollinger brand at 1.6124. The next resistance level is the weekly R2 at 1.6115 and 1.6169/81 area, where a long-run downside trend-line intersects with the weekly R3 and monthly R1.

Traders' Sentiment
Segmentation of bulls and bears in GBP/USD pair has reached a significant level of bearish positions: only 24% are buy and 76% are sell positions. Pending orders segment is almost neutral as the buy side has 49% of placed positions and the sell side 51%.

© Dukascopy Bank SA
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Actual Topics

Tue, 04 Dec 2012 08:25:49 GMT

USD/JPY edges lower

After USD/JPY pair found a resistance at 82.47, the price moves south. As the pair is overbought to a significant extent, possibility of a deeper correction is increased. The first support level will be the weekly S1 at 81.86 and after that—81.46 area, where the monthly PP level crosses with the 20-day SMA.

Tue, 04 Dec 2012 08:25:36 GMT

EUR/USD approaches the weekly R1 at 1.3055

EUR/USD pair started a week by firmly rallying. The price increased above the down-trend line at 1.3040 and was stopped by the weekly R1 at 1.3055. It is very likely to see a retest of a trend line, which was just easily overcome. Afterwards, if the price still maintains momentum to appreciate, 1.3118 level will be the key resistance, where

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