© Dukascopy
- Institute for Employment Studies (based on WSJ)
Industry outlook
Since the pair has come below 1.5825, it should then tumble down to 1.5632. Secondary and tertiary targets are located at 1.5272 and 1.5050. Rallies are to be capped by resistances at 1.6060 and 1.6136.
Traders' sentiment
The amount of long positions has gained a considerable number of new supporters of the sterling and is now 46.74% of the market, whereas shorts have stepped back to being 53.26% of all positions in GBP/USD.
Long position opened
Leading market participants, who have entered GBP/USD market with a buy trade, are expecting to close their positions at the key resistances at 1.5782, 1.5859 and 1.5979.
Short position opened
Bearish traders will pay attention to the key support levels to close their deals. The forecast targets are 1.5661, 1.5617 and 1.5497.
© Dukascopy