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    GBP/USD tests key resistance at 1.56

    © Dukascopy Bank SA
    "We're going to see more volatility in the dollar given uncertainty about the timing and size of Fed interest rate increases in 2015. If there are questions about the global economy, the Fed may delay a little bit."
    - Everbank (based on Reuters)

    Pair's Outlook
    We should not be lulled by the recently demonstrated calm behaviour of the Cable. Once either the resistance at 1.56 or the support at 1.54 is breached, the pair will escape the boundaries of the falling wedge and as a result, the volatility should greatly increase. The situation is complicated by conflicting signals—while the indicators are mostly bearish, the pattern itself implies a turn-around.

    Traders' Sentiment
    At the moment the relative gap between the amount of bullish and bearish market participants is exactly the same as on Wednesday—16 percentage points. Concerning the orders, the share of the sell ones surged from 51 to 60%.
    © Dukascopy Bank SA

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