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- Robert Skidelsky, a member of the upper chamber of Parliament (based on Reuters)
Pair's Outlook
GBP/USD experienced a very volatile trading session yesterday, as the price set a 160 pips wide daily range, but closed almost unchanged. Such movement indicates a harsh fight between bulls and bears and, since the Cable failed to breach the 20-day SMA, bulls might take the lead now. The closest resistance is the Bollinger band and weekly R1 at 1.5227/43 area.
Traders' Sentiment
SWFX market participants added 1% to the buy side and enlarged it to 62%, indicating that they still anticipate a recovery of the Cable. Waiting orders segment provides marginally promising data, as bulls, 51%, have only a minor 2% advantage over bears, 49%.
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