GBP/USD keeps moving away from the three-month down-trend, which is expected to lead the pair to this year's minimum. The immediate support is at 1.6162, represented by the weekly S1, but it is highly unlikely to influence the major bearish trend. The demand at 1.6050 on the other hand poses a real threat to the bears—potentially it can send the price to 1.63 and in case of success there—to a neck-line of a double bottom pattern at 1.65.
The difference between the amounts of bullish and bearish market participants is almost the same as yesterday—18 percentage points in favour of the former. Meanwhile, the portion of sell orders plummeted from 66 to 50%.
February 17, 2017 Golds rally may falter
The gold price has racked up its 2nd straight day of gains today on the back of US dollar weakness and doubts over an interest rate hike next month from the US Federal Reserve...
February 16, 2017 Where is black gold heading?
The Euro is slowly going down and this is not brought on by the Eurozone situation. Instead, this is fueled by the U.S. Dollar. Yesterday, Janet Yellen gave a speech in the Senate Banking Committee emphasising the fact that it Is not quite right to use the wait-and-see stance regarding the interest rate hike...
February 14, 2017 Will France exit the euro?
The Euro has come under pressure late in the European session today, after analysts warned of the huge costs that France would face should they decide to ditch the European currency...
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