British Pound Remains Attractive Sell for These Reasons

DailyFX

- British Pound fails to hold key highs versus Dollar

- A major reversal in forex sentiment suggests it set major high

- Holding below key resistance at $1.6820 keeps focus to the downside

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British Pound has Turned Lower from Highs but Remains above Key Support

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forex_trading_British_Pound_sell_positions_body_Picture_5.png, British Pound Remains Attractive Sell for These Reasons

Source: FXCM Trading Station Desktop, Prepared by David Rodriguez.

Retail Forex Sentiment has Pulled Back Significantly from Record Short

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forex_trading_British_Pound_sell_positions_body_Picture_6.png, British Pound Remains Attractive Sell for These Reasons

Data source:FXCM Execution Desk data, Prepared by David Rodriguez

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com David specializes in automated trading strategies. Find out more about our automated sentiment-based strategies on DailyFX PLUS.

Contact and follow David via Twitter: https://twitter.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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