GBP/USD on path to August high

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The Bank of England have given very clear indications that they want to lag the Fed."
- BMO Capital Markets (based on Bloomberg)

Pair's Outlook

Yesterday the Cable broke through the 61.8% Fibonacci retracement of the drop observed during the last week of August. This implies continuation of the current recovery. The immediate resistance is at 1.5674 (monthly R1), followed by 1.5818, the level where the late August sell-off began. Further to the north is the June high at 1.5930. However, during the next few days we may expect a correction, which is likely to be limited by 1.5527/04.

Traders' Sentiment

Although there are more longs (56%) than shorts (44%), the SWFX traders' sentiment borders on being neutral. Meanwhile, there is no longer a significant difference between the buy (53%) and sell orders (47%) after 20 percentage points recorded yesterday.

© 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.