© Dukascopy Bank SA
- GfK NOP (based on Reuters)
Pair's Outlook
The Cable sharply appreciates for the third consecutive trading session and today the price is already challenging the monthly R1 level at 1.5862. If the pair maintains momentum further on, the next stop will be at 1.5904, where the 20-day and 200-day SMAs converge. A settlement above the 20-day SMA would open a free area for a movement till 100-day and 55-day SMAs at 1.6026/46.
Traders' Sentiment
Trading sentiments remain bullish with respect to the Cable, as the majority of traders prefer to have the British Sterling rather than the U.S. Dollar. Currently 59% of positions are long and 41% are short. Pending orders segment is neutral, as both sides have equal shares of waiting orders.
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