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The upper one is currently creating the resistance at 1.6666, which is also reinforced by the daily R1 level. On the other side the currency pair is underpinned by the up-trend line at 1.6543, which in turn is strengthened by the daily S1, and the 200-hour SMA as well. Still, there are considerably more people thinking the Sterling is to depreciate in the future, since at the moment among the SWFX traders 69% are bearish and only 31% are bullish.
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