© Dukascopy Bank SA
"The extent to which the weakness in the UK's productivity has been structural rather than cyclical has vital implications for the economy's growth potential and for policy."
- IHS Global Insight (based on Reuters)
Pair's Outlook
Despite the slowing down in the past days, pair jumped by almost 250 pips, breached uptrend's resistance and at the moment is testing 2013 (January) high. It might be we will see a minor setback while bulls will capitalize on their gains, but 1.616 should be breached soon putting 1.63 on the map. Failure at 1.616 could provoke a sell off to the prior to this jump levels at 1.58.
Traders' Sentiment
Situation in the market remains exactly the same as yesterday. Bears continue to hold 74% of all open positions on the pair and 58% of all pending orders are set in their favour as well.
© Dukascopy Bank SA