GBP/USD retreats from weekly R1

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The big problem is the issue with the debt ceiling, and then really, it's the effect the shutdown has on data releases, which means the Fed has nothing to work with. Tapering is going to be pushed further and further back, and that's bad for the dollar."
- City Index Group Ltd. (based on Bloomberg)

Pair's Outlook

The resistance at 1.6240 keeps on denying the Cable access to higher levels, such as 1.6313/1.6288, where the upper trend-line of the rising channel stands, and 1.6456/1.6390, which is mainly formed by the January high and the monthly R1. Accordingly, there is a viable possibility of the Sterling descending from here down to one of the nearest supports (1.6098) and afterwards making another attempt to rally.

Traders' Sentiment
The bears preserve their dominant position on GBP/USD by taking up 73% of the market (74% yesterday). Apparently, they believe the bullish momentum that was commenced at the beginning of August is already exhausted and will be unable to push the price any higher.
© Dukascopy Bank SA
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Actual Topics

Fri, 04 Oct 2013 07:35:45 GMT

USD/JPY slid to 97.21/04

The supports continue to resist immense selling pressure, but are slowly being eroded. Yesterday USD/JPY closed beneath the up-trend support that connected the troughs since this year's February.

Fri, 04 Oct 2013 06:14:31 GMT

EUR/USD rises further

The weekly R2 has already fallen victim to the bullish appetite of EUR/USD and in the nearest future the R3 at 1.3655 is likely to be devoured too, being that the currency pair is aiming for 1.3711.

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