© Dukascopy Bank
"[UK] Inflationary pressures are easing"
- BRC (based on WSJ)
пЃ® Industry outlook
For as long as 55 day ma at 1.5740 is not breached, 1.5883/88 will be safe. GBP/USD is more likely to descend to 1.5500 now, although a deeper drop is not expected, since 1.5397 guards lower levels - 1.5347 and 1.5330.
пЃ® Traders' sentiment
The ratio between the amount of bullish trades and bearish ones has been slightly modified. The part of long positions has increased up to 51.17%, whereas short trades have lost a fraction and now constitute 48.83% of the market.
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 1.5654, 1.5709 and 1.5756.
пЃ® Short position opened
Bearish traders will pay attention to the key support levels to close their deals. The forecast targets are 1.5552, 1.5505 and 1.5450.
© Dukascopy Bank