© Dukascopy Bank SA
- Bank of Tokyo-Mitsubishi (based on WBP Online)
Pair's Outlook
The British currency keeps recovering after Brexit's plunge last week, with the Cable posting more gains on Wednesday. Not much has changed over the day, as technical indicators retaining mixed signals and no significant level support or resistance getting pierced. The June 24 low is now even more reinforced by the Bollinger band, suggesting that the exchange rate is unlikely to drop below the 1.32 major level even if bears take over the market. From above the nearest levels to limit the gains are located out of reach, with the closest one being the monthly S3 at 1.3851.
Traders' Sentiment
Bullish sentiment keeps weakening, as 54% of all open positions are long (previously 57%). Meanwhile, there are significantly more orders to acquire the Pound today, namely 68% (previously 57%).
© Dukascopy Bank SA