Note: This section contains information in English only."The growing threat of Donald Trump's proposed fiscal stimulus failing to keep up with market expectations may ensure dollar weakness becomes a recurrent theme in the short term."
– FXTM (based on Business Recorder)
Pair's Outlook
[ANNOUNCE]The Sterling overperformed on Monday, having climbed over the 1.25 handle, even piercing the second resistance cluster at 1.2515.[/ANNOUNCE] Tuesday is rather sensitive day, as a rather important question concerning Brexit is to be dealt with. As a result, the Cable risks falling back under 1.24, with the possibility of the 1.21 mark even being reached, where the monthly S1 coincides with the weekly one. However, a positive development is also possible, with the 1.2750 level expected to be the ceiling, assuming the strong resistance around 1.2680, formed by the 23.60% Fibo, the weekly R2 and the monthly R1, is breached. Technical studies are unable to confirm either scenario.
Traders' Sentiment
Bulls retreated again, as 66% of traders are now long the Pound (previously 68%). The share of sell orders inched up from 52 to 54%.
Tue, 24 Jan 2017 09:40:45 GMT
Source: Dukascopy Bank SA
– FXTM (based on Business Recorder)
Pair's Outlook
[ANNOUNCE]The Sterling overperformed on Monday, having climbed over the 1.25 handle, even piercing the second resistance cluster at 1.2515.[/ANNOUNCE] Tuesday is rather sensitive day, as a rather important question concerning Brexit is to be dealt with. As a result, the Cable risks falling back under 1.24, with the possibility of the 1.21 mark even being reached, where the monthly S1 coincides with the weekly one. However, a positive development is also possible, with the 1.2750 level expected to be the ceiling, assuming the strong resistance around 1.2680, formed by the 23.60% Fibo, the weekly R2 and the monthly R1, is breached. Technical studies are unable to confirm either scenario.
Traders' Sentiment
Bulls retreated again, as 66% of traders are now long the Pound (previously 68%). The share of sell orders inched up from 52 to 54%.