British Pound Turns the Corner - Clear Skies Ahead?
GBPUSD – Extremely one-sided forex trading crowd sentiment pointed to an important British Pound low, and indeed our sentiment-based Momentum2 strategy has gone long GBPUSD from $1.5236.
Trade Implications – GBPUSD: Past performance is not indicative of future results, but the Momentum2 system has done well trading the GBPUSD through recent price action. Indeed, a break above $1.5171 leaves our Currency Strategist in favor of a GBPUSD move towards $1.5281 and $1.5392.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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