British Pound Forecast Clearly Bullish, but Caution Warranted

DailyFX

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ssi_gbp-usd_body_Picture_12.png, British Pound Forecast Clearly Bullish, but Caution Warranted

GBPUSD – Forex trading crowds are their most short British Pound against the US Dollar since it traded above $1.62 in January—does this mean we make another run at the highs?

Trade Implications – GBPUSD: Our sentiment-based trading strategies continue buying into British Pound strength, and that in itself leaves us mostly bullish. Yet clear warnings of a potential sentiment extreme in the Euro/US Dollar gives us reason for pause. The US Dollar’s next moves might define the trend for the rest of the year, and as such we remain cautiously bullish GBPUSD.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

ssi_gbp-usd_body_Picture_8.png, British Pound Forecast Clearly Bullish, but Caution Warranted

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