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- BNP Paribas (based on PoundSterlingLive)
Pair's Outlook
The British currency managed to outperform the Greenback on Wednesday, not only retaking the 1.31 level, but also negating Monday's and Tuesday's losses. Gains were limited by the immediate resistance, which could cause the Pound to retreat today. However, technical indicators suggest otherwise, as they retain bullish signals. In case the bullish momentum prevails, the pair could reclaim the 1.32 level. The second closest resistance area is likely to remain out of reach, as there no impetus today is expected to push the Cable beyond 1.3250.
Traders' Sentiment
There are 52% of traders with a negative outlook towards the Sterling, unchanged since yesterday. The share of buy and sell orders barely changed, as they take up 51% and 49% of the market, respectively.
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