GBP/USD erases yesterday's losses

It seems that the Cable will carry on advancing forward, as it has just gained a foothold above the former resistance at 1.5308/1.5260, which now acts as the support, according to the change in polarity principle. The nearest serious obstacle the rally may encounter is found at 1.5383/59, though it will not be surprising if the price rises up to 1.5475 or 1.5538/27 before the selling sets in.

Some of the market participants have changed their mind with respect to GBP/USD' perspectives, since the portion of long positions suddenly became six percentage points larger (46%). The difference between the buy (51%) and sell (49%) orders has narrowed since the last report.