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"Britain should lead the EU reform campaign from within, not threaten unilateral repatriation of powers. There are lots of reforms we can make along with our partners in Europe."
- British Influence (based on Reuters)
Pair's Outlook
After a strong rally, pair finished the week slightly above 1.51 and that's where it is currently trading. Short term technicals suggest that pair faces significant downside risk. However, from the dynamics of the market sentiment we could assume that bulls are not planning to allow for the pair to erase all of the last weeks gains. Dips should find support with 1.504.
Traders' Sentiment
Market sentiment completely changed sides during the weekend. Distribution of pending orders changed by 23% and at the moment majority (64%) of open positions is being held by the bulls. Majority (54%) of pending orders is set to go long as well.
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