GBP/USD hovers near 1.5191

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"We are seeing a recovery, it is only a modest and we certainly can't be satisfied with it. In the end we will set the level of interest rates at the level that will ensure both adequate economic growth and, most importantly of all, to bring inflation back to the target." 
- Berenberg Bank (based on Reuters)

Pair's Outlook

The Cable is led by bullish sentiments on Monday morning, as the pair attempts to get back above the monthly S1 at 1.5191. Seems that investors are not convinced by economic growth of the United Kingdom and still prefer to keep money in the U.S. Dollar based securities. The closest resistance is the weekly PP at 1.5240 and the next support level is at 1.5094, where the weekly S1 intersects the Bollinger band.

Traders' Sentiment
Traders' sentiments data indicate that bullish sentiments in the market are still intact and thus continue to favour an up-trend. There are 60% of long positions. Placed orders market has only a minor advantage, since 51% of orders are to buy the Sterling.
© Dukascopy Bank SA
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