© Dukascopy
"The [U.K.] economy has taken a turn for the worse"
- Scotia Capital (based on WSJ)
Industry outlook
Although bearish impetus is weakening for now, GBP/USD is anticipated to reach a mark of 1.50 within the next 3 months. The immediate resistance is located at 1.5585, followed by 1.5600 and 1.5710, while supports are at 1.5425 and 1.5347.
Traders' sentiment
GBP/USD traders' sentiment is rather stable and has not experienced any significant changes since the last report. Majority of traders (64.2%) preferred acquiring the Pound against the Dollar, while the rest, being 35.8%, remain in opposition.
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 1.5495, 1.5554 and 1.5591.
Short position opened
Bearish traders will pay attention to the key support levels to close their deals. The forecast targets are 1.5399, 1.5362 and 1.5303.
© Dukascopy