© Dukascopy Bank SA
"You could argue that Bernanke's dovish commentary limited the upside scope of the dollar."
- Westpac Institutional Bank (based on MarketWatch)
Pair's Outlook
Even though the major support line has been breached, the Cable is reluctant to approach 1.4962/44, on the way to which there are no serious obstacles spotted. Overhead lies 1.5264/26, this zone is expected to prevent appearance of rallies and thereby push the price downwards. Still, we see absence of any clear signals provided by the indicators.
Traders' Sentiment
The share of long positions of the British Pound has marginally decreased, to 69% in the whole SWFX market and to 72% in GBP/USD, but the currency is still one of the most preferred among its peers. Conversely, the portion of traders willing to sell the Sterling is at 72%.
© Dukascopy Bank SA