Dukascopy_Analyst

GBP/USD in limbo around 1.4250

FX:GBPUSD   British Pound / U.S. Dollar
11 0 0
"The response from local supports remains corrective only and although sterling prices are evidently trading above 1.4000 at present this key/historic level nonetheless looks vulnerable to attack again going forward."
- Associated Foreign Exchange (based on PoundSterlingLive)


Pair's Outlook
On Monday the GBP/USD             currency pair reconfirmed the six-week up-trend, but recovering from its intraday low and edging over the 1.43 level. However, the Cable was unable to maintain trade that high, with trade ultimately closing just on top of the monthly PP. Resistance remains strong today, but more USD weakness could push the pair higher and once again over the 1.43 mark. On the other hand, supply just above today's opening price might cause the exchange rate to drop back towards the up-trend, with a chance of the 1.42 psychological level being pierced if fundamentals turn in the Buck's favour.

Traders' Sentiment
Bullish market sentiment grew stronger over the past 24 hours, as 69% of traders' are now long the Pound (previously 65%). The share of purchase orders, however, slid from 55 to 53%.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
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
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