Dukascopy_Analyst

GBP/USD enjoys quiet trade ahead of fundamental data

FX:GBPUSD   British Pound / U.S. Dollar
39 0 0
"The pound remains on the back foot despite a less dovish than expected inflation report and an until now softer dollar."
- Citi (based on Business Recorder)

Pair's Outlook
On Tuesday demand at the immediate support cluster triggered a buying spree of the Cable, causing the pair to recover and stabilise just above the closest resistance level . Technical indicators now shifted to the bullish side, suggesting the bullish momentum is to be prolonged today. The Sterling has the potential to reach the 1.46 major level and encounter resistance in face of the Bollinger band around 1.4618. However, risks of the GBP/USD             retesting the support trend-line circa 1.4350 also persist, depending on Yellen's testimony later today.

Traders' Sentiment
Confidence in the Pound keeps rising, with 57% of all positions now being long, whereas the share of buy orders surged from 44 to 49%.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out