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- Forex.com (based on Reuters)
пЃ® Industry outlook
The Cable is not expected to move sharply in the near-term. From above it is capped by resistance levels situated at 1.5733 (55 day ma) and 1.5756. Dips, on the other hand, should be limited by supports at 1.5555, 1.5410/26 and 1.5363.
пЃ® Traders' sentiment
The gap between the amount of bullish and bearish positions has noticeably widened since yesterday morning. The portion of long positions has tumbled down to 26.68%. At the same time the part of short positions surged up to 73.32%.
пЃ® Long position opened
The break of the short-term resistance line 1.5666 would pave the way for the pair to rise up to 1.5711. The clearance of the second daily resistance level would establish a new target for traders at 1.5755.
пЃ® Short position opened
Largest investors might have placed their take profit orders at the key support levels. These levels for intraday trading are situated at 1.5577, 1.5533 and 1.5488.
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