© Dukascopy Bank
"There is a risk that inflation [in the UK] could prove to be more persistent"
- BoE (based on WSJ)
пЃ® Industry outlook
The price is getting closer to an uptrend at 1.5412/15, below which GBP/USD may encounter supports at 1.5272 and 1.5093, should the pair show weakness. From above GBP/USD is capped by resistances at 1.5562 and 1.5749.
пЃ® Traders' sentiment
Traders' sentiment in GBP/USD has turned around and became bullish, since long positions form larger part (52.56%) of the market than short positions do (47.44%).
пЃ® Long position opened
Largest brokers set a new long position target as a break of 1.5591 may become an encouraging bullish sign en route to 1.5699. If the uptrend remains, the third target for intraday trading will be 1.5770.
пЃ® Short position opened
Major market participants with short positions will hold their deals until the price slides down to the initial support level at 1.5412. If the price continues the downtrend, the dealers might wait for the Pound to depreciate down to 1.5341 or 1.5233.
© Dukascopy Bank