Note: This section contains information in English only."On top of soft data from the UK recently ... these fresh signals of a 'hard Brexit' and the risk of another Scottish referendum, enhances our view that the broader outlook for sterling remains negative."
– IronFX (based on Business Recorder)
Pair's Outlook
[ANNOUNCE]Even though the Cable experienced another leg down on Monday, the support cluster around 1.24 managed to limit the losses and keep the pair elevated once again.[/ANNOUNCE] The 1.24 itself is providing strong psychological support, and with a number of other significant levels this area appears to be impenetrable. The GBP/USD pair would require a strong impetus, a political event or fundamental event, which could provide sufficient bearish momentum for a drop below 1.24. Such an event could occur today; however, from the technical side the Sterling should edge higher, with the 1.25 mark seen retaken. The bearish trend-line is likely to be the ceiling in case of a positive development.
Traders' Sentiment
Market sentiment remains bullish at 60%, but the portion of buy orders inched higher from 47 to 51% during the last 24 hours.
Tue, 28 Feb 2017 08:16:13 GMT
Source: Dukascopy Bank SA
– IronFX (based on Business Recorder)
Pair's Outlook
[ANNOUNCE]Even though the Cable experienced another leg down on Monday, the support cluster around 1.24 managed to limit the losses and keep the pair elevated once again.[/ANNOUNCE] The 1.24 itself is providing strong psychological support, and with a number of other significant levels this area appears to be impenetrable. The GBP/USD pair would require a strong impetus, a political event or fundamental event, which could provide sufficient bearish momentum for a drop below 1.24. Such an event could occur today; however, from the technical side the Sterling should edge higher, with the 1.25 mark seen retaken. The bearish trend-line is likely to be the ceiling in case of a positive development.
Traders' Sentiment
Market sentiment remains bullish at 60%, but the portion of buy orders inched higher from 47 to 51% during the last 24 hours.