© Dukascopy Bank SA
"As we head for the ADP release, we may once again be surprised by the resilience of the U.S. economy. The market is likely anticipating that the supply side may eventually play catch-up after presumably delaying some activity due to the fiscal cliff risks"
- Societe Generale SA (based on Bloomberg)
Pair's Outlook
The Cable has experienced a very volatile session yesterday, as the price moved in a very wide range – more than 160 pips. GBP/USD made an up-side spike and returned back in the upper part of the Bollinger bands. Yesterday's high broke a recent high in December and even a high in September, though technical indicators have not reached any greater values, thus this currency pair faces a divergence, being is a strong sell signal.
Traders' Sentiment
GBP/USD pair experiences a significant extent of the bearish sentiments, as buy positions compound only 25% of all opened positions and the sell side has the majority – 75% of all positions. Pending orders segment remains neutral, since 48% of orders are buy and 52% are sell.
© Dukascopy Bank SA