GBP/USD is slowly moving towards monthly S1 at 1.5957

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The odds look tilted marginally towards the Bank of England holding off from more quantitative easing"
- HIS Global Insight (based on Reuters)

Pair's Outlook
GBP/USD pair also showed a high volatility, as yesterday the price increased to 1.6030 and after that, in the second trading session part, sharply depreciated, braking the previous bottom at 1.5957. Currently, the price fluctuates in the lower Bollinger part on a daily graph, between the 20-day SMA and the lower line, that indicates that this currency pair still maintains bullish sentiments. Also, the price is very close to the weekly and daily S1 level, which converge at 1.5957.

Traders' Sentiment
Traders at SWFX market maintain pessimistic sentiments on GBP/USD pair, as 39% traders hold a long position and 61% have a short position. The situation with pending orders indicates a perfect equilibrium in investors' sentiments, as buy and sell positions are distributed in a 50/50 ratio.

© Dukascopy Bank SA
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Actual Topics

Thu, 08 Nov 2012 08:57:32 GMT

USD/JPY steps even lower

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Thu, 08 Nov 2012 08:57:11 GMT

EUR/USD looks for a new bottom

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