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"Any hints from Fed chairman Ben Bernanke on further stimulus would dent the dollar, potentially pushing the pound towards last week's three-month high of $1.5912"
- Reuters
Pair's Outlook
GBP/USD is slowly recovering, but the rally appears to be fragile and might falter ahead of 1.5894/1.5915, violation of which would pave the way towards 1.5983/1.6031. Supports, on the other hand, may be found at 1.5824 and 1.5772/44— they should underpin the cable while it is attempting to commence a robust recovery and to soar up to 1.6098 in the long run.
Traders' Sentiment
For the most part traders are bearish on GBP/USD, being that 66% of positions are short and only 34% of them are long. On the contrary, orders do not reveal preference of the market, since the numbers of buy and sell orders are nearly equal and constitute 51 and 49 per cent of the total amount, respectively.
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