© Dukascopy Bank
"The UK's AAA rating is not as robust as it may otherwise be, but relatively, it stands out as a better credit than Europe"
- ING (based on Reuters)
пЃ® Industry outlook
Near-term outlook for GBP/USD is bearish. To overcome present weakness the pair has to pierce through a key resistance located at 1.5560/70. In case the prices bounces off the latter level, it might plummet down to 1.5100.
пЃ® Traders' sentiment
Most of the traders (55.49%) of Swiss Forex Marketplace are bearish on GBP/USD currency pair, whereas the minority of them (44.51%) perceives the Cable able to surge.
пЃ® Long position opened
Leading market participants, who have entered GBP/USD market with a buy trade, are expecting to close their positions at the key resistances at 1.5601, 1.5672 and 1.5772.
пЃ® Short position opened
The immediate support line is at 1.5430. Should the price step even lower, it will encounter subsequent levels at 1.5330 and 1.5259, where recovery might start.
© Dukascopy Bank