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- BBVA (based on Reuters)
Pair's Outlook
Yesterday the Cable has confirmed 1.5273/33 as a support zone, which is formed by the recent highs, lows and several other studies. Accordingly, it would be reasonable to assume that the price will go upwards, but the technical indicators reveal a substantial downside risk on a weekly chart. The nearest most notable areas of supply are 1.5361/35, 1.5526/06 and 1.5601.
Traders' Sentiment
The British Pound has gained in popularity relative to the U.S. Dollar, as the portion of long positions on GBP/USD has increased by 4% up to 57%. As for the pending orders, at the moment there is no difference between the numbers of buy and sell ones—both types take up a half of the total amount.
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