© Dukascopy Bank SA
"The supervision of Libor indices and benchmarking should be carried out by those with the closest knowledge of the market and who demonstrate the best market understanding. In our opinion, that is The Financial Conduct Authority."
- TheCityUK (based on Reuters)
Pair's Outlook
Yesterday pair appreciated all the way to 1.56, but did not manage to breach 200-day SMA slightly above the mentioned level and at the moment is hovering slightly below it. It is the highest level pair has been at since the mid-January, 2013. Although technical indicators do not give conclusive readings, the fact that bulls are strengthening their presence in the market cannot be ignored.
Traders' Sentiment
Bulls increased their holdings by further 6% and at the moment they account for 66% of all market participants. It does not seem that bulls could do anything about it as majority, even if slim (53%), of pending orders are set to go short on the pair as well.
© Dukascopy Bank SA