© Dukascopy Bank SA
- Canadian Imperial bank of Commerce (based on CNBC)
Pair's Outlook
The Cable is on a positive track, as country's macro data indicates a positive performance and recovery of the economy. The British Pound fully reflects all changes in fundamentals, as the price steps higher along the Bollinger band and currently is just beneath the weekly R1 level at 1.5594. The RSI delivers a value of 65 and it is very close to an overbought zone, thus last few weeks' appreciation should take a breath soon.
Traders' Sentiment
The Sterling slips under even more aggressive bearish pressure, as the sell side increased by another 8% and reached a 67% benchmark, indicating that investors assess the current situation as containing substantial downside risk. Waiting orders market is slightly bearish, 57% of placed orders are sell.
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