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- Investec Asset Management (based on Bloomberg)
Pair's Outlook
As it turned out yesterday, a rebound from the falling resistance line on Monday was not strong enough to send the pair below the support formed by the monthly PP and the 55-day SMA at 1.6114/1.6066. Accordingly, GBP/USD should stay range-bound until either the key resistance at 1.6237 or the key support at 1.5933/1.5871 give in.
Traders' Sentiment
At the moment three our of four traders believe that the greenback is going to outperform the British Pound, which has become the least preferred currency in the SWFX marketplace, on average being bought in merely 26% of cases. Speaking of orders, however, 56% of them are to acquire the Sterling.
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