Note: This section contains information in English only."$1.27 will seem to some people like a very good level to get back into pound shorts (bets on it weakening)."
- a dealer with one large Asian bank in London (based on Business Recorder)
Pair's Outlook
[ANNOUNCE]Even though the British currency successfully strengthened against the American Dollar yesterday, it still failed to maintain trade at a fresh two-month high, having closed at 1.2735.[/ANNOUNCE] On one hand, the Cable could have reached its high for the moment, as technical indicators no longer suggest that more bullish momentum is to follow; on the other hand, the wedge's resistance line near 1.29 is yet to be reached, with sufficient space for a rally present. However, in order to reach the trend-line the pair is required to pierce the 100-day SMA, located around the 1.28 major level.
Traders' Sentiment
Bulls keep losing numbers, as 56% of all open positions are long today (previously 58%). The number of sell orders also increased over the day, namely from 59 to 61%.
Tue, 06 Dec 2016 08:52:44 GMT
Source: Dukascopy Bank SA
- a dealer with one large Asian bank in London (based on Business Recorder)
Pair's Outlook
[ANNOUNCE]Even though the British currency successfully strengthened against the American Dollar yesterday, it still failed to maintain trade at a fresh two-month high, having closed at 1.2735.[/ANNOUNCE] On one hand, the Cable could have reached its high for the moment, as technical indicators no longer suggest that more bullish momentum is to follow; on the other hand, the wedge's resistance line near 1.29 is yet to be reached, with sufficient space for a rally present. However, in order to reach the trend-line the pair is required to pierce the 100-day SMA, located around the 1.28 major level.
Traders' Sentiment
Bulls keep losing numbers, as 56% of all open positions are long today (previously 58%). The number of sell orders also increased over the day, namely from 59 to 61%.