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- Ewald Nowotny, ECB policymaker (based on Reuters)
Pair's Outlook
The Cable still gravitates towards the lower boundary of the bullish channel it has been trading within for more than three months. Given that the rising trend-line is not breached in the nearest future, the Sterling should increase in value, though it is deemed to be capped by the January high at 1.6390. A local peak at 1.6261 also poses a substantial threat to the possible up-move.
Traders' Sentiment
Most of the traders continue to perceive the British Pound as unable to advance any further—61% of open positions in the SWFX marketplace will benefit from currency's depreciation with respect to the greenback. Meanwhile, there is almost no difference between the amounts of buy (51%) and sell (49%) orders placed on the pair.
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