GBP/USD gathers strength

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The recovery of the pound after [Tuesday's] announcement that its service-sector PMI fell in December for the second consecutive month is ... impressive and underlines the continued demand for that currency."
- IronFX (based on MarketWatch)

Pair's Outlook

Right now GBP/USD is facing an important challenge in the face of the resistance represented by the weekly and monthly pivot points at 1.6469/49. If the currency pair manages to pass through this zone, the rally will be then set to continue until it arrives at 1.6752/45. Previously an attempt to rise this high failed at 1.6618, therefore we should be wary of this level.

Traders' Sentiment

SWFX market participants remain undecided with respect to GBP/USD—nearly equal amounts of traders are in favour and against the rally—51% are holding long positions and 49% are holding short ones. Concerning the orders placed on the Cable, 55% of them at the moment are to sell the Sterling.
© Dukascopy Bank SA
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Actual Topics

Thu, 09 Jan 2014 07:46:53 GMT

USD/CHF probes 0.9128/20

USD/CHF has successfully defeated the monthly R1 at 0.9091 and is currently trying to mount yet another obstacle at 0.9128/20, being that this is the level of the June low and the weekly R1.

Thu, 09 Jan 2014 07:47:17 GMT

EUR/USD fell through 1.3613/1.3598

The support at 1.3613/1.3598, consisting of the 55 and 100-day SMAs, has finally given in to the selling pressure, thereby exposing the monthly S1 at 1.3547/45.

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