"The dollar got a lift out of the latest Fed minutes, which for the first time entertained the notion of the bank scaling back some of its easy monetary policies"
- Western Union Business Solutions (based on Bloomberg)
Pair's Outlook
The Cable demonstrates its volatile nature, as the pair has lost 200 pips of its value during yesterday's trading session. GBP/USD has gone through the 20-day SMA without any serious difficulties and was stopped just around 1.6060, where the lower Bollinger band merges with the 55-day SMA. Mostly in this situation the price makes a spike down and after that retreats back till the 20-day SMA, therefore it is very likely to see a 16050 level's testing and after that an appreciation till 1.6162.
Traders' Sentiment
SWFX market players increase their bullish sentiments, as the buy side controls 33% of opened positions and 67% of positions are short. Pending orders market remains with a bullish bias, since 61% of placed orders are buy and 39% are sell.
© Dukascopy Bank SA
© Dukascopy Bank SA