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

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

New to FX markets? Learn more in our video trading guide.

Contact David via

Twitter at https://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3635+0.0004+0.03%
    USDSGD=X
    1.5303+0.006+0.39%
    EURSGD=X
    2.1014-0.0008-0.04%
    GBPSGD=X
    87.8635+0.0526+0.06%
    SGDJPY=X
    5.6877-0.0011-0.02%
    SGDHKD=X
    2.6602+0.0072+0.27%
    SGDMYR=X
    9,506.4004-21.8838-0.23%
    SGDIDR=X
    4.5989+0.0027+0.06%
    SGDCNY=X
    1.0617-0.002-0.19%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,216.30+3.20+0.26%
    GCJ15.CMX
    16.66+0.10+0.62%
    SIK15.CMX
    76.94+1.10+1.45%
    ^XAU
    2.690.00+0.11%
    HGK15.CMX
    49.18-0.58-1.17%
    CLJ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.50-0.02
    ^FVX
    2.00-0.01
    ^TNX
    2.60-0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.945-0.030-3.08%
    N21.SI
    0.400.00-1.23%
    E5H.SI
    0.280.000.00%
    5WA.SI
    0.975-0.010-1.02%
    G13.SI
    4.24+0.02+0.47%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.184+0.072+64.29%
    A59.SI
    0.225+0.035+18.42%
    5WD.SI
    0.142+0.020+16.39%
    5IF.SI
    0.34+0.04+13.33%
    543.SI
    0.445+0.045+11.25%
    5FQ.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.117-0.148-55.85%
    F3V.SI
    0.385-0.095-19.79%
    A7S.SI
    0.345-0.085-19.77%
    T4B.SI
    0.30-0.05-14.29%
    Y06.SI
    0.12-0.02-13.04%
    T77.SI