© Dukascopy Bank
- FxPro (based on Reuters)
Industry outlook
The Cable has stabilised near a solid support located at 1.5345 and now is expected to commence inching higher, although resistances at 1.5671, 1.5717 and 1.5739 might hamper the upward movement.
Traders' sentiment
The number of bullish and bearish trades is nearly the same at the moment on GBP/USD currency pair, forming 51.8% and 48.2% of the market, respectively. Thus the sentiment is currently neutral.
Long position opened
Leading market participants, who have entered GBP/USD market with a buy trade, are expecting to close their positions at the key resistances at 1.5488, 1.5515 and 1.5562.
Short position opened
Bearish traders will pay attention to the key support levels to close their deals. The forecast targets are 1.5414, 1.5367 and 1.5340.
© Dukascopy Bank