One hundred and five accountable market participants are now working with the British pound. The general positions of this currency unit have increased in both directions over the past week and are currently at some parity (162.008 against 147.698). Open interest as at the time of formation of the report amounted to 179,734. It should be noted that all the groups of large market players represented by the report are still gaining positions without reducing the number of contracts in any direction. This fact indicates a steady interest in the pound and the presence of prospects for it in the near future. At the same time, two opposing groups of the general report (Non-Commercial and Commercials) currently do not have a significant advantage in their positions. Non-Commercial is dominated by short positions (54.799 versus 35.810), while Commercials has the advantage on the side of long positions (120,800 against 87,501).Traders, united in the financial report into the Dealer Intermediary group, still increase a significant percentage gap in investments (37.3 versus 5.2), and they give their preferences to players on the downside (67.031 versus 9.324).

Main conclusion

The confrontation will continue this week. Players with a favorable combination of circumstances will most likely strive to move to active and effective actions, while the opponent, having now some advantage of big money, will seek to maintain it in a weekly and monthly format (we will close both the week and month this Friday).

As can be seen from the graph, the trend daily preferences are now on the side of the bears - a dead cross Ichimoku is active and the pair is working in a bearish zone relative to the Ichimoku cloud. Keeping their current location, the bears will defend their advantages and prospects. But when these circumstances change, the overall picture in the distribution of the balance of forces can change significantly. The main resistance, guarding the bearish interests, are now at the levels of 1.2305 (daily Senkou Span B) and 1.2357 (daily Kijun).

In the lower halves, the bears' interest remains tied to the key H1 levels, which are located today at 1.2185 (central Pivot level) - 1.2214 (weekly long-term trend). At the same time, leaving the correction zone and restoring the downward trend will return relevance to the support of the classic Pivot levels 1.2138 - 1.2113 - 1.2066. Consolidation above key levels (1.2185 - 1.2214) will give preference to lower halves for players to increase. In this case, the resistance within the day for them will be 1.2257 - 1.2282.