© Dukascopy Bank SA
Compared to previous five days, this week Dukascopy traders became more negative on US currency, as more than 60% of all votes are set to sell the Pound. Inline with negative statement, the median prediction for May 31 almost crossed the 1.44 mark. The biggest part of forecasts, however, remains even below the 1.44 major level. Concerning traders' opinions, Jignesh supposes that "The British Pound was the top performer last week despite the bullish run in the USD. Nearing the EU Referendum, votes are coming in favor of a stay which has the markets repricing the GBPUSD pair. Volatility may increase in the week, but the pair stays firm, and with a weekly bullish engulfing candle to start the week, the downside should be protected."
© Dukascopy Bank SA