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- Societe Generale SA (based on Reuters)
Pair's Outlook
The Cable performed similarly to the major currency pair, since the price slipped below a recent low and soared just after that, settling in the upper part of Bollinger band. The appreciation was stopped by 1.5233, the lowest point in 2012. Today the British Pound remains just beneath this level and the next resistance might be met at 1.5270, where the 55-day SMA intersects the Bollinger band.
Traders' Sentiment
Bulls diminished their positions significantly, since the buy side diminished by another 16% and currently amounts to 45%. Waiting orders market maintains bullish perspectives, since there are 61% of long orders waiting to buy the British Pound.
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