© Dukascopy Bank
- Credit Suisse Group AG (based on Bloomberg)
пЃ® Industry outlook
GBP/USD is nearing a downtrend at 1.5415, which acts as a support at the moment. In case bearish impetus strengthens, subsequent line at 1.5272 might come into play. From above the pair is capped by resistances situated at 1.5747 and 1.5883/88.
пЃ® Traders' sentiment
Long positions continue to advance in numbers, as they already form 59.67% of the market, while the portion of bearish trades has significantly diminished and presently comprises 40.33% of the total amount of positions in GBP/USD.
пЃ® Long position opened
Investors should pay attention to the identified with the help of the standard pivot point method resistance zones, as they might be useful during intraday trading. The initial resistance level is at the level of 1.5527, whereas R2 and R3 are situated at 1.5591 and 1.5650 accordingly.
пЃ® Short position opened
Major FX traders expect the price to test the initial support level at 1.5404. The breakout of this line will pave the way for the price to test S2 at 1.5345 and S3 at 1.5281.
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