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"What we would worry (about) is that we are getting an unbalanced recovery. It could be sustainable in the sense that growth could go on for a year or two, but over the medium term it would not be what we need."
- National Institute of Economic and Social Research (based on Reuters)
Pair's Outlook
After a formidable (270 pip) rally in the last 3 days pair seems to be slowing down. It might be that there is some pressure coming from Fibo 61.8% (mid of June till beginning of July move) and the support line connecting 17th of June and 25th of July highs. It might be that fair share of this pressure is reflected in the aggregate reading of the medium and long term technicals.
Traders' Sentiment
Bears took the upper hand in the market once again. At the moment they account for 59% of market participants. It seems that this is a direct increase because pending bearish orders did not decrease, but, actually, increased by 1%, till 64% in total.
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