GBP/USD stopped at 1.5361/46

While the resistance at 1.5254/33 failed to halt appreciation of the Sterling, monthly R1 along with Bollinger band situated at 1.5361/46 was able to negate the upward momentum of the price. However, we may still see continuation of the bullish move, which will then encounter weekly R1 at 1.5464 and monthly R2 at 1.5526. In the meantime, technical indicators are mixed, pointing in different directions on daily and weekly charts.

At the moment long positions on GBP/USD constitute 54% of the market, even though on average the greenback is acquired more frequently, in 60% of traders against Pound's 55%. As for the orders, there is almost no difference between the buy and sell ones, their portions are 51% and 49% respectively.