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"Mervyn is seen as hostile and sometimes contemptuous of bankers and that will change. Carney is likely to be someone who speaks the same language as the bankers."
- Former Bank deputy governor (based on Reuters)
Pair's Outlook
Pair continues to fluctuate supported by the 55-day SMA. We could expect some short term rallies which should stay below the 1.55. However, the pairs bias remains bearish and we are much more likely to see dips till the 1.53 and 1.52 where significant portion of the expectations of major market participants is placed.
Traders' Sentiment
Distribution of open positions is moving towards the equilibrium. Holdings of the bears decreased by additional 1% and at the moment they account for 52% or market participants. In addition to this 54% of all pending orders are set to go long on the pair.
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