GBP/USD retests the weekly R2 at 1.6115

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Sterling looks fully valued up at these levels unless we see further topside impetus given by the services PMI on Wednesday"
- CIBC World Markets (based on Reuters)

Pair's Outlook
GBP/USD pair moved lazily yesterday and attempted to breach the weekly R2 level at 1.6115, but was pushed back. Today, the price steps higher and is already retesting this level. The next resistance area is at 1.6165/81, where the monthly R1 and weekly R3 merge with a downside trend-line. Also the RSI has a value of 65, being very close to an overbought zone.

Traders' Sentiment
GBP/USD pair faces a disproportion in bulls and bears distribution, as the buy side controls only 25% and the sell side 75%. Placed orders segment is almost neutral, as 49% are buy and 51% are sell pending positions.
© Dukascopy Bank SA
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Actual Topics

Wed, 05 Dec 2012 08:49:56 GMT

USD/JPY breaches the weekly PP at 82.30 again

Last few days losses in USD/JPY pair are almost erased, as the pair surged tonight from the lower Bollinger band and is currently retesting the weekly PP at 82.30. The price has not broken neither the last high nor the last low, so it is possible to see a symmetrical triangle and trade from its boundaries.

Wed, 05 Dec 2012 08:49:39 GMT

EUR/USD tests the monthly R1 and weekly R2 at 1.3115

EUR/USD pair continues to appreciate and today reached the key resistance level at 1.3115/21, where the monthly R1 and weekly R2 intersect with the upper Bollinger band. The price increases for a sixth consecutive trading session and reached a seven-week high. Together with it the RSI has value of 73, indicating that the currency couple is overbought.

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