GBP/USD leaves monthly PP

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The winter weather is going to strike again and provide another disappointing payrolls number but we still think the dollar could strengthen."
- Tempus Consulting (based on Reuters)


Pair's Outlook

The Cable turned away from the support at 1.6621/1.6599, mainly created by the monthly PP, and negated most of the losses incurred this Monday. If the tendency is preserved, GBP/USD could try to re-test a bullish trend-line, which at the moment is at 1.6900/1.6881. However, right now there does not seem to be enough upward momentum in order to cover 150 pips to reach this resistance.

Traders' Sentiment

The sentiment towards GBP/USD has become more bearish, as evidenced by a higher than Wednesday's portion of the short positions, which already amounts to 61% (56% yesterday). Meanwhile, the percentage of orders set to acquire the Sterling plunged, from 67% down to 44%.
© Dukascopy Bank SA

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