FOREX ANALYSIS: British Pound Sentiment Warns of Continued Weakness

DailyFX

View photo

.
ssi_gbp-usd_body_Picture_8.png, FOREX ANALYSIS: British Pound Sentiment Warns of Continued Weakness

GBPUSD – Retail FX traders have continued to scale back their British Pound short positions against the US Dollar (ticker: USDOLLAR), and the noteworthy shift in sentiment warns that the pair may have seen an important failure at $1.63. Since last week, total short interest has fallen 11 percent while longs are up 20 percent.

We see further risk of GBPUSD declines as crowds buy into weakness.

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

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

New to FX markets? Learn more in our video trading guide.

Contact David via

Twitter at http://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

Rates

View Comments (0)