Dukascopy - Analytics

    Dukascopy

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    GBP/USD poised for more gains

    © Dukascopy Bank SA
    "The FOMC minutes were not as hawkish as the market had expected."
    - Merrill Lunch Japan (based on MarketWatch)

    Pair's Outlook
    The Pound is seen extending gains with poor attempts to decline. Technical indicators are all showing bullish signs, suggesting that the pair will continue growing. And for now the Sterling retains bullish momentum despite trading next to the upper Bollinger band, while the pair is edging closer to the weekly R1 at 1.5471. 

    Traders' Sentiment
    Market sentiment among SWFX participants remains in equilibrium between bulls and bears. However, the number of pending orders in the 100-pip range to acquire the Sterling decreased dramatically. Over the night their share went down from 73% to only 45%. 

    © Dukascopy Bank SA

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