Note: This section contains information in English only."We're seeing a bit of a relief rally now that the worst case scenario of a unilateral 'hard Brexit' has been deferred, and markets can start focusing on other factors (like) the US presidential election."
- CMC (based on Business Recorder)
Pair's Outlook
[ANNOUNCE]The British Pound prolonged its rally against the US Dollar on Friday, establishing a new four-week high of 1.2557.[/ANNOUNCE] Having opened with a relatively small bearish gap today, the Cable slipped back below the 1.25 major level. This suggests that another surge could be far-fetched, even though only the Bollinger band is providing immediate resistance. On the other hand, a strong bearish development is also unlikely, as the weekly and the monthly PPs form a substantial demand area around 1.24. Furthermore, there are no fundamental events that could have a significant impact on the GBP/USD pair today, apart from the US elections. Technical indicators are also giving mixed signals today.
Traders' Sentiment
There are 63% of traders holding long positions today (previously 60%), whereas 60% of all pending orders are to sell the Sterling.
Mon, 07 Nov 2016 08:22:25 GMT
Source: Dukascopy Bank SA
- CMC (based on Business Recorder)
Pair's Outlook
[ANNOUNCE]The British Pound prolonged its rally against the US Dollar on Friday, establishing a new four-week high of 1.2557.[/ANNOUNCE] Having opened with a relatively small bearish gap today, the Cable slipped back below the 1.25 major level. This suggests that another surge could be far-fetched, even though only the Bollinger band is providing immediate resistance. On the other hand, a strong bearish development is also unlikely, as the weekly and the monthly PPs form a substantial demand area around 1.24. Furthermore, there are no fundamental events that could have a significant impact on the GBP/USD pair today, apart from the US elections. Technical indicators are also giving mixed signals today.
Traders' Sentiment
There are 63% of traders holding long positions today (previously 60%), whereas 60% of all pending orders are to sell the Sterling.