The cable to tumble

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Source: Dukascopy
© Dukascopy
“Weak economic data would support the U.S. dollaron a safe-haven bid“- Commonwealth Bank (based on Bloomberg)Industry outlookThe possibility of the currency couple climbing up to the area of 1.5783/1.5973 is constantly decreasing. As soon as a support at 1.5500 is breached, losses may continue till the price slides down to 1.4973.Traders’ sentimentGBP/USD traders’ sentiment seems to be rather stable, without noticeable changes in proportion between long (47.18%) and short (52.82%) positions, even though the greenback is the most popular currency among majors.Long position openedLargest brokers set a new long position target as a break of 1.5701 may become an encouraging bullish sign en route to 1.5794. If the uptrend remains, the third target for intraday trading will be 1.5967.Short position openedMajor market participants with short positions will hold their deals until the price slides down to the initial support level at 1.5529. If the price continues the downtrend, the dealers might wait for the price to depreciate down to 1.5449 or 1.5276.
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Fri, 30 Sep 2011 12:39:38 GMT

The pair is trading sideways

“External factors affected production negatively, the yen's strength was also a negative factor”- Japan Research Institute (based on WSJ)Industry outlookAs the industry outlook suggests the currency pair is capped from above by resistances situated at 77.23, 77.45 and 77.83. Supports, on the other hand, may be found at 76.29/25, 75.94 and 75.00.Traders’ sentimentTraders’ sentiment in USD/JPY market is fixed, as

Fri, 30 Sep 2011 12:38:00 GMT

EUR/JPY to continue advancing

“There would be demand for safe haven currencies, like the dollar and yen”- Commonwealth Bank (based on Bloomberg)Industry outlookEUR/JPY extends its rebound from a strong support at 101.15, which is anticipated to last until 105.67 or 107.97/108.45. Dips will be limited by support lines located at 102.60, 101.95 and 101.15.Traders’ sentimentMore traders have become confident in the Japanese yen, as

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