British Pound Forecast to Fall Further

ssi_gbp-usd_body_Picture_8.png, British Pound Forecast to Fall Further

GBPUSD – Retail FX traders have bought aggressively into British Pound weakness against the US Dollar (ticker: USDOLLAR), and in fact the crowd is now its most net-long since the GBPUSD bottomed near $1.54.

Trade Implications – GBPUSD: Our sentiment-based trading strategies have sold the British Pound versus the USD and Japanese Yen, and such one-sided positioning warns that we may see continued GBP weakness. The risk is that crowd positions tend to be at their most one-sided at key turning points, but such reversals are extremely difficult to predict and only clear in hindsight.

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

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2580+0.0026+0.20%
    USDSGD=X
    1.7400+0.0053+0.30%
    EURSGD=X
    2.1133+0.0067+0.32%
    GBPSGD=X
    81.3555-0.3184-0.39%
    SGDJPY=X
    6.1631-0.0125-0.20%
    SGDHKD=X
    2.5985-0.0026-0.10%
    SGDMYR=X
    9,256.6846-43.00-0.46%
    SGDIDR=X
    4.9673-0.0014-0.03%
    SGDCNY=X
    1.1650-0.001-0.08%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,288.90+4.30+0.33%
    GCM14.CMX
    19.62+0.19+0.96%
    SIK14.CMX
    92.35-0.53-0.57%
    ^XAU
    3.12+0.07+2.12%
    HGK14.CMX
    102.00+0.56+0.55%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.75+0.04
    ^FVX
    2.70+0.02
    ^TNX
    3.48+0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.123+0.001+0.82%
    B22.SI
    0.15+0.008+5.63%
    545.SI
    0.635+0.040+6.72%
    5WH.SI
    0.615+0.005+0.82%
    E5H.SI
    1.355+0.005+0.37%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    20.00+4.200+26.58%
    K6S.SI
    1.215+0.190+18.54%
    S53.SI
    0.415+0.045+12.16%
    570.SI
    1.345+0.130+10.70%
    5DA.SI
    0.154+0.014+10.00%
    5GD.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.053-0.059-52.68%
    5TF.SI
    1.62-0.520-24.30%
    N02.SI
    0.20-0.020-9.09%
    E94.SI
    0.179-0.013-6.77%
    567.SI
    0.30-0.020-6.25%
    508.SI