GBP/USD drops insignificantly

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The bottom line ... is that the current policy of near-zero interest rates does not yet appear to be generating incipient inflationary pressures that could not be addressed in a timely fashion as needed."
- BoE (based on Reuters)

Pair's Outlook

The Cable attempted to slide down on Tuesday. During the trading day the pair reached a low of 1.5403, stopping ahead of the weekly PP, where GBP was expected to find support. Nonetheless, the currency closed the day above the monthly R1. Today GBP/USD is likely to post yet another rally, and it will possibly settle around the weekly R1. The bullish outlook is strengthened by the indicators, but we should be wary of the resistance cluster around 1.5560.

Traders' Sentiment

The sentiment, however, edged down a little, as only 48% of all open positions are long. At the same time the number of orders to acquire the Sterling declined as well, their percentage contracted to 45%.

© Dukascopy Bank SA
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Actual Topics

Wed, 25 Feb 2015 09:22:07 GMT

USD/JPY regains momentum

The Buck rebounded, although the market reaction was not as strong as anticipated. USD/JPY bounced back through the weekly PP and settled at 118.71.

Wed, 25 Feb 2015 09:00:23 GMT

EUR/USD to respect down-trend at 1.14

While there is still some upside potential for EUR/USD, the currency pair is likely to be capped by the falling trend-line and 20-day SMA at 1.14.

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