GBP/USD fails to gain momentum

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The market is still quite long sterling, it's a crowded trade at the moment and it's going to take a lot to jump higher."
- Banco Santander (based on Bloomberg)


Pair's Outlook

Despite the relatively elevated volatility observed yesterday (80-pip trading range) none of the key levels were broken. This left the exchange rate trapped between the February high together with the monthly R1 at 1.6822 and the weekly PP at 1.6801. But if we assume the technical indicators to be correct, the immediate resistance is more likely to be broken than to remain intact, thus paving the way towards the 2009 highs at 1.70.

Traders' Sentiment

Even more people decided to short sell the British Pound—their percentage now amounts to 74% (72% yesterday). However, the resistance is softening, being that the portion of sell orders around the current price fell—from 60% to 46%.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
For further information regarding potential cooperation,
please call us or make callback request.
Aby dowiedzieć się więcej o Opcjach Binarnych w Banku Dukascopy / platformach handlowych Forex, SWFX, oraz innych,
zadzwoń do nas lub pozostaw prośbę o oddzwonienie.
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.