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
    1.3458-0.001-0.08%
    USDSGD=X
    1.4989-0.0017-0.11%
    EURSGD=X
    2.1130-0.0034-0.16%
    GBPSGD=X
    91.0462+0.1715+0.19%
    SGDJPY=X
    5.7604+0.0051+0.09%
    SGDHKD=X
    2.7797-0.0096-0.34%
    SGDMYR=X
    9,899.7588-15.9941-0.16%
    SGDIDR=X
    4.6128+0.0057+0.12%
    SGDCNY=X
    1.0390+0.0012+0.11%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,173.10+1.30+0.11%
    GCQ15.CMX
    15.66+0.08+0.54%
    SIU15.CMX
    63.14-0.77-1.20%
    ^XAU
    2.620.00+0.10%
    HGU15.CMX
    58.75-0.72-1.21%
    CLQ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.630.00
    ^FVX
    2.340.00
    ^TNX
    3.10+0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.30+0.01+1.69%
    5WA.SI
    0.265+0.010+3.92%
    AFC.SI
    0.760.000.00%
    N21.SI
    0.31-0.02-6.06%
    R14.SI
    4.25+0.04+0.95%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    2.50+0.58+30.21%
    S91.SI
    0.194+0.040+25.97%
    AYE.SI
    0.29+0.05+23.40%
    5PL.SI
    0.36+0.04+12.50%
    5NF.SI
    0.192+0.020+11.63%
    AWR.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.470.00-1.05%
    MN5.SI
    0.111-0.013-10.48%
    L08.SI
    0.105-0.009-7.89%
    B32.SI
    0.31-0.02-6.06%
    R14.SI
    0.44-0.03-5.38%
    I85.SI