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"It is particularly encouraging to see the move towards growth among UK-facing companies. These companies have been consistently more defensive than their international-facing peers in the last two years."
- Deloitte (based on Reuters)
Pair's Outlook
Pair received a bullish impetus from the 2013 low at 1.482 and at the moment has recovered 110 pips out of 450 pips of losses it sustained last week. Pair is likely to continue recovering these losses, but for the time being it seems unlikely it could breach 1.50 as short term technicals suggest that there is still a significant downside risk associated with the pair.
Traders' Sentiment
Bulls took a step back and their presence in the market is at the end of the last week levels. At the moment they account form 65% of market participants. Pending orders are almost perfectly evenly distributed between the long and short traders.
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