© Dukascopy Bank
- HSBC (based on Reuters)
Industry outlook
The Cable is trading flat for now just above a support situated at 1.5650/43, although it is unlikely to hold for long, since the pair is capped by 1.5747/1.5833. Additional supports may be found at 1.5599 and 1.5500.
Traders' sentiment
The share of bullish trades has dropped down to 44%, while the portion of bearish ones has increased up to 56%, making the pair oversold for now.
Long position opened
FX market participants have put their take profit orders at the key resistance points of intraday trading. Some of the investors might close their deals at 1.5752 and 1.5795. The highest level is at 1.5854.
Short position opened
Key support for GBP/USD intraday trading is situated at 1.5650. In case S1 is penetrated, traders with short positions are likely put their T/P orders at 1.5591 and 1.5548.
© Dukascopy Bank