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"The idea that there may be no more QE for now has impacted sterling at the margin"
- FXPro (based on Reuters)
Pair's Outlook
GBP/USD appears to remain undecided after a failure to advance above 1.6140/54. At the moment the currency pair is underpinned by 1.6096 and 1.6069/43, which should remain intact for the positive outlook to hold. If this is true, a 16-month high at 1.6308 will be eventually tested and overcome, thus paving the way towards 1.6745, even though it may seem to early to mention such a distant level.
Traders' Sentiment
Sentiment of traders towards the cable is very much similar to the mood of the market with respect to EUR/USD, i.e. strongly bearish, since 71% of positions opened on the pair are short. Nevertheless, the negative bias is not supported by the ratio between buy and sell orders, which is 54% to 46%, respectively.
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