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- Co-op Group (based on Bloomberg)
Pair's Outlook
Although technicals suggest that pair will continue appreciating it becomes more and more likely that we might see a bearish correction. The RSI and the Stochastic in the short term are starting to trail down which indicates that recent relative high on 17th of June most likely was the pairs turning point. In case pair decides to inch up higher it is really unlikely it will mange to advance above Fibo 61.8% (January, 2013, till March, 2013, move).
Traders' Sentiment
Bears are continuing to dominate in the market. They continue to hold 74% of all open positions on the pair. As for pending orders, majority belongs to the bull, but is unlikely it will have significant impact for the time being as difference is rather small (53 % vs. 47%).
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