GBP/USD's outlook remains negative

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The [U.K.] recovery won't be spectacular, just slow and steady, but appears more solid and better-rooted."
- Confederation of British Industry (based on Bloomberg)

Pair's Outlook

Similarly to EUR/USD, the Cable, being unable to overcome the major down-trend, is sliding down. Right now the currency pair is at the rising support line, but is unlikely to rally from here, as suggested by five out of eight technical studies. Instead the price is expected to remain bearish with the medium-term target at 1.5750/00, where the 100-day SMA merges with the June high.

Traders' Sentiment
The difference between the amounts of bullish and bearish with respect to GBP/USD market participants has greatly diminished since the previous report. Now the latter (53%) have only a marginal advantage over the former (47%), meaning that at the moment the traders are largely undecided regarding the future of the pair.
© Dukascopy Bank SA
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Actual Topics

Mon, 04 Nov 2013 07:43:36 GMT

USD/JPY is poised for gains

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Mon, 04 Nov 2013 07:43:19 GMT

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