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- Danske Banke A/S (based on Reuters)
Pair's Outlook
The British Pound was under bearish pressure yesterday, as the pair dropped heavily, breaching a recent low at 1.5264 and the 20-day SMA at 1.5261. Currently the pair is between two vey important levels - the 55-day SMA at 1.5193 and the middle line of the Bollinger band. Settlement outside one of these lines would indicate totally different trading signals, but both of them would have a big importance and would be supported by market participants.
Traders' Sentiment
SWFX market investors increased bullish sentiments noticeably overnight, as the buy side increased by 10%, reaching a share of 63%. Waiting orders market is slightly bullish with 54% of orders ready to purchase the British Pound.
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