Dukascopy - Analytics

    Dukascopy

    468.75 6.25/10
    83% of positive reviews
    Real

    GBP/USD to fall under 1.42

    © Dukascopy Bank SA
    "Carney's conditions for raising interest rates -- which include growth looking strong enough to eliminate the remaining slack in the economy -- are probably still not met. The recovery still looks very unbalanced."
    - Capital Economics (based on Bloomberg)

    Pair's Outlook
    The British currency experienced another slump last Friday, reaching a daily low of 1.4150, but stabilising at 1.4246. Even though the GBP/USD was seen mostly consolidating during the previous week, this trend has fallen under the risk of getting broken today. Technical indicators retain bearish signals, while the supply at 1.4269, namely the weekly PP, is rather tough. Furthermore, an even stronger cluster is located just under the 1.44 major level. The closest support, however, is located at 1.4125 and represented by the weekly S1.

    Traders' Sentiment
    There was no change in the bullish sentiment, as 63% of all open positions remain long. The share of sell orders slid from 54 to 51%.

    © Dukascopy Bank SA

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