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"When Islamic finance is growing 50 per cent faster than traditional banking and when global Islamic investments are set to grow to £1.3 trillion by 2014 we want to make sure a big proportion of that new investment is made here in Britain,"
- Britain's Prime Minister (based on Reuters)
Pair's Outlook
It seems that cable-greenback cross is not planning to shift to higher gear as it has already dipped below the 20-day SMA. It seems to be just a matter of time when it is going to fall below it. That would put 1.5966 on the map, with some bullishness around 1.6041 possible.
Traders' Sentiment
Pounds remains one of the more sold major currencies; 67% of all cases. It comes as no surprise that 70% of traders hold short positions on the pair. Bullish side of pending orders increased by 3% and is at 62% level today.
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