- Sumitomo Mitsui Banking (based on Business Recorder)
The British currency was able to recover from daily losses and end the day with a rally, with a six-week down-trend getting breached. Nevertheless, the immediate resistance was not reached, demand around which, around 1.4415, remains strong. Meanwhile, the closest support is still represented by the weekly PP , but the exchange rate is expected to drop lower if the Fed's statement turns out to be hawkish today. Technical indicators also suggest a decline is due, but the Cable has the potential to touch the 1.45 level.
Bull lost some numbers today, as 61% of all open positions are long, compared to 65% of Tuesday. At the same time, the portion of purchase orders lost eight percentage points, falling to 58%.