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"After 2010, the assumption was that we'd be out of power for two or three terms. Instead, we'll be very competitive at the next election and have a good chance of winning."
- Labour party (based on Reuters)
Pair's Outlook
Pair seems to be inching up higher, but remains capped. Closure above the September (2013) high at 1.615 would uplift most of the pressure and would allow us to expect gains up to 1.63. if the pair closed below 1.606/59 we could expect dips to 1.589 and 1.578 if that wont sop the pair as well.
Traders' Sentiment
Despite the fact that bullish pending orders decreased by additional 6% (from 56% to 50%), most likely dues to their triggering, market sentiment became noticeably more bearish. At the moment short traders account for 72% of the market participants. That is 7% more than yesterday and 3% more that a few days ago.
© Dukascopy Bank SA