© Dukascopy Bank SA
"Global growth of 3% to 4% is an investor's dream. It's amazing to me that the financial press is fostering the widespread perception that the world economy is headed for a recession. That is far from reality."
- John Dessauer, former multinational banker (based on CNBC)
Pair's Outlook
The pair has recovered from the lowest level this year, although, it still fluctuates nearby. Currently, the pair is supported by the weekly PP that is located at 1.5641, but we do not think that the pair will be able to hold back the pressure from pair's bears and the strongly bearish technical indicators in daily and weekly range.
Traders' Sentiment
The SWFX traders are getting less and less convinced that the Pound is going to gain relative to the U.S. Dollar; but overall the bulls are still in a slight majority, as they take up 53% of the market, and this is a advantage over the bears (47%). In the meantime, the share of sell orders remain at 64%.
© Dukascopy Bank SA