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"This was a demanding test. The results show that the core of the banking system is significantly more resilient, that it has the strength to continue to serve the real economy even in a severe stress, and that growing confidence in the system is merited."
- Mark Carney, Bank of England Governor (based on Daily Mail)
Pair's Outlook
The pair continue to hold its positions above the 1.57 level; however, at the same time its seems to be somewhat stuck between the weekly and monthly PPs. The fact that the weekly technical studies are strongly bearish could eventually drag the Sterling lower. Nonetheless, if the currency pair breaches the monthly PP then a rally towards the weekly R2 at 1.5888 could follow.
Traders' Sentiment
The sentiment of the SWFX traders basically has not changed, as the amount of bullish traders increased just one percent and now stays at 51%. The distribution between the buy and sell orders is also very stable—51% and 49% respectively.
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