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    GBP/USD extends up-trend

    © Dukascopy Bank SA
    "We suspect that she will characterize the risks around those choices in a way that suggests a greater likelihood that the Committee will reiterate the "patient" language in March and that "liftoff" in June is not the most likely outcome."
    - Nomura (based on Reuters)

    Pair's Outlook
    The Sterling started the trading week right from the weekly PP at 1.5395. The Cable seems to be extending its upward trend, which has been seen for a month now. Judging by the price's behaviour recently, the Pound is likely to decline a bit today, but doubtfully has the strength to breach the weekly PP downwards. Moreover, technical indicators are showing neutral signs in the short-term at the moment.

    Traders' Sentiment
    Bulls and bears remain in equilibrium in the market sentiment among SWFX traders. Nevertheless, the number of pending orders in the 100-pip range to acquire the Sterling slightly dropped. Over the night their share went down from 59% to 55%.

    © Dukascopy Bank SA

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