GBP/USD approaches the Bollinger line

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The Fed has to deliver a lot for the dollar to get a durable weakening, a more dovish position (than $45 billion) could see sterling head back towards the (September high) around the $1.63 level in the coming weeks"
- Saxo Bank (based on Reuters)

Pair's Outlook
GBP/USD pair demonstrates a strong upside impetus and sharply increases towards the upper Bollinger band at 1.6151. If this resistance does not stop the appreciation, the next level will be at 1.6180, where the monthly R1 intersects with the weekly R2.

Traders' Sentiment
Such steep appreciation of GBP/USD pair pushes investors to open short positions believing that the currency pair will experience a correction soon - only 24% of traders have long positions and 76% have short positions. Pending orders market remains neutral, as both side have equal shares.

© Dukascopy Bank SA
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Actual Topics

Thu, 13 Dec 2012 08:36:26 GMT

USD/JPY pair skyrockets

In the last two trading sessions, USD/JPY pair was driven by an extremely strong impulse, as the price breached a lot of resistance levels: the upper Bollinger line, the weekly R1 and R2. The next resistance is at 83.84, where the monthly R1 is found. The RSI value entered an overbought zone, as its value is 73.

Thu, 13 Dec 2012 08:36:07 GMT

EUR/USD pair surges

EUR/USD pair firmly steps higher from the monthly R1 at 1.3063 and surges further towards the upper Bollinger line at 1.3115. It is very likely to see that the price will reach 1.3115/21 level, were the monthly R1 merges with the Bollinger band. But after four straight gains in a row, the price should consolidate around 1.3120 level.

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