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"The outcome of the euro-zone crisis will determine whether Mr. Osborne has to overhaul his plans"
- WSJ
Industry outlook
GBP/USD currency couple is currently moving upward, but is expected to struggle at 1.5700. The pair, nevertheless, may rise up to 1.5870. Since the price is rather bullish, supports are less likely to be tested, although in case of dips they will halt the price at 1.5570, 1.5535 or 1.5290.
Traders' sentiment
The share of bullish traders has lost a considerable part and now is 53.9% of EUR/USD market. Supporters of the greenback though have grown in numbers and presently compose 46.1% of all market participants.
Long position opened
The initial resistance level for intraday trading is 1.5678. Bulls might establish additional targets at 1.5760 and 1.5947 if the euro appreciates even more.
Short position opened
Largest investors might have placed their take profit orders at the key support levels. These levels for intraday trading are situated at 1.5490, 1.5360 and 1.5199.
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