GBP/USD halts at 1.5526/21

The supply area the currency pair is entering is already being felt as GBP/USD is moving towards the rising resistance line at 1.5526/21 and appears to have difficulties extending the rally started last week. Another bearish sign is shown by the indicators, being that on a weekly chart most of them are red, while daily and monthly studies are largely silent.

The fact that the level of popularity of the U.S. Dollar has soared is noticeable across its currency pairs. The sentiment towards the Cable became bearish—57% of positions are short. Moreover, there are now less buy orders (41%) in comparison to the sell ones (57%) placed on the pair.