© Dukascopy Bank
"Sterling is going to benefit immensely as a new breed of safe haven. The out-performance of the pound is a sign of bigger things to come"
- Swissquote Bank SA (based on Bloomberg)
пЃ® Industry outlook
The immediate resistance for the Cable is situated at 1.5779, while a higher level is at 1.6165. In case the pair becomes bearish, supports at 1.5557 and at 1.5409 should be able to halt downward movement and restore neutral bias.
пЃ® Traders' sentiment
Traders' sentiment has become even more bearish for GBP/USD pair than it was yesterday morning. Presently only 27.12% of all the positions are long, while the most of them (72.88%) are short.
пЃ® Long position opened
The initial resistance level for intraday trading is 1.5705. Bulls might establish additional targets at 1.5741 and 1.5795 if the euro appreciates even more.
пЃ® Short position opened
Largest investors might have placed their take profit orders at the key support levels. These levels for intraday trading are situated at 1.5615, 1.5561 and 1.5525.
© Dukascopy Bank