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
    1.3512+0.001+0.07%
    USDSGD=X
    1.4729+0.0046+0.31%
    EURSGD=X
    2.0742-0.0029-0.14%
    GBPSGD=X
    91.5769+0.4238+0.46%
    SGDJPY=X
    5.7420+0.0007+0.01%
    SGDHKD=X
    2.6968+0.0016+0.06%
    SGDMYR=X
    9,752.0566-47.9814-0.49%
    SGDIDR=X
    4.5894-0.0051-0.11%
    SGDCNY=X
    1.0452+0.0006+0.06%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,187.50+0.60+0.05%
    GCM15.CMX
    16.68-0.07-0.39%
    SIN15.CMX
    68.76+0.07+0.10%
    ^XAU
    2.77-0.01-0.34%
    HGN15.CMX
    57.68-0.35-0.60%
    CLN15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.53+0.01
    ^FVX
    2.130.00
    ^TNX
    2.88-0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.71+0.01+1.43%
    Q1P.SI
    0.805-0.020-2.42%
    N21.SI
    0.290.000.00%
    5WA.SI
    0.34+0.01+3.03%
    AFC.SI
    0.20+0.01+3.63%
    5OU.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    1.25+0.24+23.15%
    AYO.SI
    0.189+0.031+19.62%
    GJ8.SI
    0.30+0.05+17.65%
    AYE.SI
    0.149+0.014+10.37%
    L10.SI
    0.16+0.02+10.34%
    5GI.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.19-0.06-24.00%
    41H.SI
    1.48-0.30-16.85%
    AYB.SI
    1.32-0.21-13.73%
    AYN.SI
    0.12-0.02-13.04%
    5IF.SI
    0.375-0.040-9.64%
    AWK.SI