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
    1.2578+0.002+0.16%
    USDSGD=X
    1.7389+0.0053+0.31%
    EURSGD=X
    2.1113-0.0016-0.07%
    GBPSGD=X
    81.3587-0.342-0.42%
    SGDJPY=X
    6.1641-0.0095-0.15%
    SGDHKD=X
    2.5965-0.005-0.19%
    SGDMYR=X
    9,203.5645+30.2373+0.33%
    SGDIDR=X
    4.9619-0.0052-0.11%
    SGDCNY=X
    1.1661-0.01-0.85%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,285.20+4.10+0.32%
    GCM14.CMX
    19.47+0.10+0.54%
    SIK14.CMX
    91.05
    ^XAU
    3.04-0.01-0.31%
    HGK14.CMX
    101.52-0.23-0.23%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.72
    ^FVX
    2.70
    ^TNX
    3.48
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.122+0.002+1.67%
    B22.SI
    0.61+0.005+0.83%
    E5H.SI
    2.22+0.010+0.45%
    JS8.SI
    0.16+0.002+1.27%
    5GB.SI
    0.142-0.003-2.07%
    545.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.23+0.031+15.58%
    5UZ.SI
    0.22+0.020+10.00%
    D6U.SI
    0.184+0.014+8.24%
    5WD.SI
    0.275+0.020+7.84%
    5TP.SI
    0.161+0.011+7.33%
    A03.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.245-0.055-18.33%
    T18.SI
    0.196-0.024-10.91%
    5WR.SI
    0.161-0.019-10.56%
    T16.SI
    0.36-0.040-10.00%
    S24.SI
    0.098-0.010-9.26%
    C11.SI