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- Saxo Bank (based on Reuters)
Pair's Outlook
GBP/USD pair demonstrates a strong upside impetus and sharply increases towards the upper Bollinger band at 1.6151. If this resistance does not stop the appreciation, the next level will be at 1.6180, where the monthly R1 intersects with the weekly R2.
Traders' Sentiment
Such steep appreciation of GBP/USD pair pushes investors to open short positions believing that the currency pair will experience a correction soon - only 24% of traders have long positions and 76% have short positions. Pending orders market remains neutral, as both side have equal shares.
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