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
    1.3782-0.0034-0.24%
    USDSGD=X
    1.5367-0.0019-0.12%
    EURSGD=X
    2.0261+0.0054+0.27%
    GBPSGD=X
    80.5807+0.1378+0.17%
    SGDJPY=X
    5.6365+0.0129+0.23%
    SGDHKD=X
    2.9811+0.0039+0.13%
    SGDMYR=X
    9,869.7822+2.5986+0.03%
    SGDIDR=X
    4.7751+0.0119+0.25%
    SGDCNY=X
    0.9975+0.0051+0.51%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,215.90-6.80-0.56%
    GCQ16.CMX
    16.12-0.22-1.33%
    SIN16.CMX
    79.41-2.71-3.31%
    ^XAU
    2.110.00+0.17%
    HGN16.CMX
    49.480.000.00%
    CLN16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.39+0.04
    ^FVX
    1.85+0.03
    ^TNX
    2.65+0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.295+0.015+5.36%
    N21.SI
    1.02+0.01+0.99%
    C22.SI
    0.380.000.00%
    E5H.SI
    3.95+0.05+1.28%
    Z74.SI
    0.775+0.015+1.97%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.29+0.02+7.41%
    40T.SI
    0.295+0.015+5.36%
    N21.SI
    0.345+0.020+6.15%
    588.SI
    0.71+0.04+6.77%
    5ML.SI
    0.345+0.015+4.55%
    AXB.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.285-0.035-10.94%
    S19.SI
    0.17-0.01-5.56%
    B26.SI
    0.245-0.010-3.92%
    BRR.SI
    0.255-0.005-1.92%
    528.SI
    0.385+0.010+2.67%
    F03.SI