© Dukascopy
- Investec Bank Plc (Based on Bloomberg)
Pair's Outlook
As GBP/USD pair found a support level at 1.5932 during a yesterday session, the price has reversed from it and currently is moving back north. It has breached the 1.5995 level quite easily and now is testing the weekly PP line and the 55-day SMA at 1.6055. If the price continues to appreciate, the next resistance level will be considered at 1.6112/35, where the weekly R1 goes and previous historical levels are located.
Traders' Sentiment
Traders at SWFX market anticipate that the U.S. Dollar will appreciate as the exchange rate will fall, judging by the fact that 39% trades have a long position and 61% have a short. Pending orders are distributed in a very similar manner, as 43% investors ordered to buy and 57% ordered to sell.
© Dukascopy