© Dukascopy Bank SA
"The (Fed) minutes revealed a split on timing but see through the noise and we are definitely set for a rate hike in H2 at some stage."
- Saxo Capital Markets (based on Reuters)
Pair's Outlook
Despite the expectations, the currency pair edged up on Wednesday. The Sterling tested a resistance zone around 1.50, before settling at 1.4874. Judging by the Pound's behaviour in the past two weeks, a second day hike should take place. However, the rise is likely to be insignificant, and the technical studies are giving off mixed signals right now. The gains are to be limited by the 1.49 psychological level.
Traders' Sentiment
Market sentiment among the SWFX traders somewhat improved, but remains bearish, as 43% of all positions are long today (previously 42%). At the same time, the buy/sell order ratio now equals one.
© Dukascopy Bank SA