GBP/USD aims for 1.69

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The strength of sterling is really a reflection of the fact that the rest of the world, Europe in particular, hasn't grown much."
- MPC member (based on Bloomberg)


Pair's Outlook

Instead of falling down to 1.65, the upward-sloping support line, following an encounter with the upper edge of the rising wedge pattern, the Cable was able to stabilise near 1.66 and revive the upward momentum. If the bullish tendency persists, GBP/USD will soon meet the interim resistance at 1.6807, which is likely to be breached. However, there are still few chances that the price will manage to break 1.6881/53 as well.

Traders' Sentiment

Overall the SWFX market is not supporting further appreciation of the Sterling relative to the U.S. Dollar. This is evidenced by the distribution between the long and short positions—35% and 65% respectively.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request)
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request).
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.