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Pair's Outlook
The Sterling had slightly appreciated on Thursday morning against the Greenback, as the currency exchange rate traded above the 1.2350 mark. However, the pair had experienced more volatility to the upside until 7:00 GMT. Previously, during the first half of the week the currency rate fell from 1.2489 on Monday to 1.2314 during Tuesday's trading session, where it found support and rebounded. The rebound has been slowly continuing since then. Although, it is unlikely that a notable surge will occur, as the Pound is still poised for losses.
Traders' Sentiment
SWFX traders have not changed their opinion since Wednesday, as 63% of open positions remain long. In the meantime, 55% of trader set up orders were to sell the Sterling.
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