© Dukascopy Bank SA
- Bank of Tokyo-Mitsubishi UFJ Ltd. (based on Bloomberg)
Pair's Outlook
The Cable faces some difficulties to find a direction, as the bottom line is an up-trend line, which starts at the end of 2008 and the upper line is constructed of bearish market sentiments and previous bearish movement's momentum. Currently the price is attempting to breach the weekly PP level at 1.5751 and in case it succeeds, it is very possible to see a test of the 20-day SMA at 1.5834.
Traders' Sentiment
Market sentiments reversed to bullish, as 57% of positions are long and 43% are short. Pending orders segment is slightly bearish, as just 53% of orders are for a short position and 47% are for a long.
© Dukascopy Bank SA