GBP/USD stays at 2009 high

The bulls turned out to be persistent, as for now the Cable is refusing the leave the vicinity of the 2009 high. The Sterling was expected to fall from 1.7044 down to 1.68 in order to form a rising wedge. Instead, the currency's recent behaviour signifies the technical studies might be correct by giving ‘buy' signals, and the price could soon push through the nearest resistances to reach the upper rising trend-line at 1.74.

The SWFX market continues to hold the view the Pound is going to weaken against the buck—as many as 73% of all open positions are short. Concerning the orders, the share of the sell ones rocketed from 52% up to 67%.