GBP/USD can't brake through 1.6135 level

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy
"Don't forget we have been here before. The Bank of England has paused QE previously back in 2010. The market took all that very much in its stride."
- the UK's debt management office (based on Bloomberg)

Pair's Outlook
GBP/USD pair has stuck in a 1.6112/35 resistance zone, as yesterday seemed that price has broken through this level, but on London trading session turned around and went back to a flat channel. As GBP/USD lost its volatility in the last few trading sessions, there is very possible to see a large time frame impulse in the near future. However, it is hard to say to which side, as indicators are either mixed or neutral.

Traders' Sentiment
According to SWFX market data, GBP/USD pair has expectations to experience a fall in the near future, as only 32.5% traders have a long position and 67.5% have a short. Pending orders market is more balanced, as 48.4% orders are placed for a long position and 51.6% are for a short.

© Dukascopy
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Thu, 18 Oct 2012 09:05:27 GMT

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