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"The US should wait to raise policy rates until there are further signs of inflation rising steadily, with continued strength in the labor market."
- IMF (based on WBP Online)
Pair's Outlook
The Cable prolonged its rally for another day on Wednesday, reaching the target resistance cluster around 1.53. The Sterling opened trade today in between the mentioned cluster's levels, with more of those supporting the pair. Even though the pair should extend its rally, risks of returning back to 1.52 persist, due to fundamental market movers. Technical studies also provide no insight on the GBP/USD's movement today, although the weekly signals remain bearish. In case of a sharp USD selloff, the Pound could retake 1.54 level and even reach the 100-day SMA near 1.55.
Traders' Sentiment
Today 62% of traders hold long positions, compared to 64% yesterday. The share of buy orders also worsened, from 59 to 54%.
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