Dukascopy - Analytics

    Dukascopy

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    GBP/USD reluctant to move

    © Dukascopy Bank SA
    "Currencies do not like political uncertainty. There is no clear leader and I sense genuine concern from investors regarding certain political configurations."
    - Neil Jones, Mizuho Bank Ltd. (based on Bloomberg)

    Pair's Outlook
    There was barely any change in the Pound-Dollar exchange rate yesterday, though the whole trading range amounted to more than 130 pips. The pair keeps crawling upward, but the gains should be capped by resistance near 1.49, as a break-out to the upside is not favoured by the technical indicators, nor is a dip beneath support at 1.48. Apparently, the market is anticipating Friday's events to serve as a catalyst for a move outside of these borders.

    Traders' Sentiment
    As the volatility was decreased, neither the distribution between the longs (45%) and shorts (55%), nor the distribution between the buy (52%) and sell (48%) orders was subject to any change, both remain at neutral levels.

    © Dukascopy Bank SA

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