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- Standish Asset Management (based on Reuters)
Pair's Outlook
Although GBP/USD has recently made a good attempt to settle above the January high, right now the currency pair stays capped by the resistance at 1.6439/1.6390, being unable to move any higher. Accordingly, if the interim support at 1.6353/42 is eroded, there is a high probability the Sterling will fall back down to the key demand area at 1.6218/1.6192.
Traders' Sentiment
The British Pound is currently one of the least popular currencies—on average it is bought in merely 27% of cases. The distribution between the longs and shorts particularly in GBP/USD is 29% to 71% respectively. In the meantime, there is almost no difference between the amounts of buy (49%) and sell (51%) orders.
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