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"Analysts said sterling may be vulnerable to more weakness in the coming days and weeks as investors price in the prospect of further QE or even a 25 basis points rate cut"
- Reuters
Pair's Outlook
Extension of cable's appreciation was denied by 100 and 200 day SMAs in conjunction with an uptrend resistance at 1.5728/79. This wide but nonetheless dense zone is expected to cap the currency pair for a prolonged period of time, being that most of mid and long-term technical studies suggest resumption of bearish activity and thereby of pair's focus on supports at 1.5650 and 1.5592/73.
Traders' Sentiment
SWFX liquidity consumers' sentiment towards GBP/USD remains largely unchanged and mixed, as the shares of bullish and bearish traders are nearly equal - 52% and 48%, respectively. As for the orders placed on the pair, 49% of them are to buy the Sterling and 51% are to sell it against the U.S. Dollar.
© Dukascopy Bank SA