GBP/USD fluctuates in a 50pips range

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy
"The recent data have been relatively supportive for the pound, showing there is a bottoming out of the economic cycle. GDP is the release this week that has the potential to move the market because it will spur speculation about what the Bank of England might do"
- Commerzbank

Pair's Outlook
Monday trading session was very calm in GBP/USD pair, as it fluctuated in a narrow 50 pips range. The lower channel line lies at 1.5995 level, where we have three bottoms since September 10th and it is very possible, if the price settle below this level, we will see a more serious downside impulse. In this case, the next support zone is only around 1.5932/1.5895 area.

Traders' Sentiment
Situation in SWFX market for GBP/USD pair stays the same, holding bearish sentiments. The majority of traders, 65%, have a short position and 35% have a long position. In addition, pending orders distribution is almost equal, as 49% investors have placed orders for a long position and 51% for a short.

© Dukascopy
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Actual Topics

Tue, 23 Oct 2012 07:47:02 GMT

USD/JPY reaches 3-month high

USD/JPY starts this week very confidently and firmly, as the price breached 80 Yen per Dollar mark, bringing currency course to the 3-month high. After Asia trading session, exchange rate has stabilized around 0.7996 level, but, however, it is very likely that it will reach 80.18, where the monthly R2 lies. Technical indicators show first signs of overbuying USD/JPY, as

Tue, 23 Oct 2012 07:46:22 GMT

EUR/USD slowly appreciates towards 1.3115 level

EUR/USD pair, after rebounding to 1.3024 support level, slowly moves up towards 1.3115 resistance zone and forms a triangle pattern with an uptrend line since October 1st and the horizontal upper line at 1.315/35. The triangle pattern usually brakes through the upper horizontal line with a strong impulse. This idea is also supported by the daily and weekly technical indicators

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