© Dukascopy Bank SA
- Deutsche Bank (based on Reuters)
Pair's Outlook
Cable's deceleration ahead of 1.5750/41 is a natural development of the rally, being that this level has played a major role throughout the last years. Still, the pair is capable of advancing further despite the resistance it is about to hit. A more serious threat to the bullish tendency is posed by some of the higher levels, at 1.5871 and above, where GBP/USD is most likely to encounter the major trend-lines.
Traders' Sentiment
As a result of Sterling's robust appreciation lately, its popularity is on the decline. Overall the currency is bought in only 33% of case. This percentage is even lower in its pair with the U.S. Dollar—30%. The ratio between the buy and sell orders is also not reassuring for the bulls—48% to 52%.
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