Dukascopy_Analyst

GBP/USD on the edge of falling to 2015 low

FX:GBPUSD   British Pound/U.S. Dollar
184 1 0
"More and more, we see a certain level of discomfort among the Fed regarding the strength of the dollar."
- Toronto-Dominion Bank (based on Bloomberg)

Pair's Outlook
A much stronger-than-anticipated ADP data on Tuesday contributed to the Cable's weakness that day, pushing the pair to retest the 1.46 level. Nonetheless, another decline is likely to be short-lived, as the GBP/USD             is now supported by a strong cluster around the 2015 low of 1. 4565             , represented by the weekly S2; monthly 2 and the Bollinger band . Due to the lack of sufficient downward momentum a breach is not yet expected; however, although a rebound is possible, the weekly S1 at 1.4668 is to provide resistance and prevent the Sterling from climbing too high.

Traders' Sentiment
Today 64% of traders hold long positions (compared to 62% yesterday), while the share of buy orders inched up from 57 to 58%.
what's your view on GBP/JPY ?
Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out