GBP/USD pierces through 1.5305/1.5265

GBP/USD disregarded a number of strong resistances yesterday and managed to settle above a support zone at 1.5305/1.5265, opening new opportunities for itself. While daily and monthly studies suggest a bearish candle on the chart, most recent price action implies that the Cable is able to jump up to the down-trend resistance line at 1.5483 before their forecasts come true.

Traders were right in supposing that the Sterling had the potential to appreciate relative to the U.S. Dollar, but they have already repositioned themselves after the surge—now only 40% of positions are to profit from a rally in GBP/USD. The ratio between the buy and sell orders is 54% to 46% accordingly.