Dukascopy - Analytics


    488.50 6.00/10
    83% of positive reviews

    GBP/USD stays in a tight range

    © Dukascopy Bank SA
    "There's no doubting that the UK fundamentals are consistently robust, but traders have chosen to ignore relatively strong economic data once again."
    - FXTM (based on Reuters)

    Pair's Outlook
    Thin liquidity because of holidays and NFP report expectations keep volatility greatly decreased. The Cable remains unable neither to break the 20-day SMA, nor to push through the weekly S1. At the same time, the technical indicators are mixed, further obscuring the prospects for the pair. Still, the market overall is bearish, and we are looking for an eventual close beneath 1.47 to expose the seven-month down-trend at 1.43.

    Traders' Sentiment
    Just as yesterday, 45% of positions are long and 55% are short, meaning the sentiment is neutral. Concerning the pending orders, there are currently more people willing to purchase the Pound (56%) than to sell it (44%).

    © Dukascopy Bank SA

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