GBP/USD stabilises at 1.52

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"We see the GBP as second only to the US dollar in the G10."
- BNP Paribas (based on Reuters)

Pair's Outlook

The Cable declined to 1.52 yesterday, where it can find some support before likely ceding more ground. In the short run the downside is limited by the weekly and monthly PPs. However, at the same time there is a major falling resistance line at 1.53 that is expected to drive the currency pair lower. During the coming days GBP/USD may re-visit the tough support at 1.50, violation of which will imply a sell-off down to the 2013 low at 1.48.

Traders' Sentiment

The SWFX market participants remain undecided with respect to the Sterling, being that 52% of open positions are long and 48% are short. As for the pending orders, right now there are relatively less buy commands than yesterday, 57% compared to 61%.


© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.