GBP/USD sold off from 1.62

The Sterling-bulls are not as sanguine as earlier this week after encountering the three-month falling resistance line at 1.62. If this level holds today as well, there will be few doubts of GBP/USD returning back to 1.5950 in the nearest future. Should the bearish technical indicators turn out to be incorrect, and the Pound appreciates, there is another cluster at 1.64 that will attempt to prevent farther advancement of the rate.

Similarly to the situation 24 hours ago, there is no significant difference between the numbers of bulls (55%) and bears (45%). But the share of the sell orders has fallen since the previous report from 60 to 48%.