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- Mizuho Corporate Bank Ltd. (based on Reuters)
Pair's Outlook
The Cable was higher yesterday, as the exchange rate increased till a 1.5234 level, where the 20-day SMA merges with the major historical resistance level. Since all the pairs, which have a direct exposure to the U.S. Dollar, face a correction in last few days, it is reasonable to pay more attention to the U.S. currency index and news from the United States, as these might be the key drivers of the pair next week.
Traders' Sentiment
Investors are bearish towards GBP/USD, as 55% of positions are short. Bears sharply increased their share just after the price recovered, thus these number might be speculative in a longer perspective. Placed orders segment is gently bullish with 58% of buy orders.
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