GBP/USD rebounds from 20-day SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"If the employment data do improve as we expect, we think that could be the larger driver of sterling this week as the market continues to romance the idea that the Bank of England could be the first to tighten."
- RBS (based on MarketWatch)

Pair's Outlook

Although there were no notable supports nearby, GBP/USD went in the direction suggested by the technical indicators, namely north. Right now the Sterling is testing the weekly PP, one of the few potential obstacles that stand between the spot price and a re-test of the key level at 1.70. Still, if the latter resistance is broken, we will be looking for the pair to be sold off above the monthly R2 at 1.7123, where it is supposed to meet the up-trend.

Traders' Sentiment

The sentiment of the SWFX market with respect to GBP/USD is exactly the same as yesterday, with 64% of open positions being short. Concerning the orders, at the moment 56% of them are set to sell the Pound against the buck.
© Dukascopy Bank SA
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Actual Topics

Tue, 13 May 2014 06:50:34 GMT

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Tue, 13 May 2014 06:50:22 GMT

EUR/USD stalls near 100-day SMA

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