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Pair's Outlook
Yesterday the Cable found support at 1.5241, where the 55-day SMA was positioned. This level created sufficient bullish impetus to reverse the price and continue an up-side trend. The pair is currently just ahead the major resistance and the upper Bollinger band at 1.5346. Thus, if GBP/USD overcomes the major resistance, it is highly likely that it will continue an appreciation further.
Traders' Sentiment
Distribution marginally shifts to a buy side, as bulls added another 1% and enlarged their total share up to 60%. Waiting orders market is closer to an equilibrium, since bulls possess 52% and bears have control over 48% of orders.
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