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- Credit Agricole (based on Reuters)
Pair's Outlook
The Cable turns out to be hesitant at the moment, as it neither extends the recent losses nor does it erase them, but gravitates towards 1.65 instead. Still, as long as the resistance created by the 2011 highs and 100-day SMA is intact, the bias remains to the downside, even though some of the weekly and monthly indicators are presently pointing upwards.
Traders' Sentiment
Right now the distribution between the long and short positions in GBP/USD is nearly equal. While the former take up 48% of the market, the latter constitute 52% of it. As for the orders set on the pair, the portion of buy ones has declined lately, specifically from 61% to 50%.
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