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"We are telling you the minimum amount of stimulus that we're going to provide. There could be more if necessary. But there won't be less. We are absolutely clear on that."
- BOE governor (based on Reuters)
Pair's Outlook
It seems that pair has stabilized after a 280 pip sell off in the last two weeks and 100 pip bounce from the weekly S2. Pair remains in the vicinity of the 20-day SMA and is showing signs of a possible rally. However, it seems that it might start only in beginning of the next week and 20-day SMA should work as a catalyst for that.
Traders' Sentiment
Bulls are continuing to strengthen their presence in the market. At the moment they account for 36% of market participants. That is 2% more than yesterday and 6% more than two days ago. Pending orders, however, returned on being in noticeable favour for the bears. In numeric term that would be 56% what is 3% more than yesterday, but 2% less than few days ago.
© Dukascopy Bank SA