fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: GBP/USD takes a break at 1.5446/30  Mon Feb 18, 2013 11:05 am | |
| GBP/USD takes a break at 1.5446/30 'The pound seems clearly at risk of following the yen and suffering the next large-scale devaluation for a major currency.' - UBS AG (based on Bloomberg) Pair's Outlook The Cable has stalled ahead of the declining support line at 1.5446/30, calling into question whether the Sterling is going to lose in value even more or the price has finally bottomed out. Potentially, and this appears to be a probable course of events, the currency pair could step lower, down to 1.5230, which in turn has not been breached since September of 2010. Traders' Sentiment The British Pound is currently one of the most popular currencies in the market, since it is acquired in 60% of cases on average. As for GBP/USD in particular, its attractiveness is more pronounced there, with 65% of positions being long. Pending orders paint a different picture, where the portions of buy and sell orders are equal  | |
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