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
    1.3736+0.0035+0.26%
    USDSGD=X
    1.4941+0.0024+0.16%
    EURSGD=X
    2.0423+0.0023+0.11%
    GBPSGD=X
    86.8198-0.1629-0.19%
    SGDJPY=X
    5.6453-0.0138-0.24%
    SGDHKD=X
    2.6902+0.0047+0.18%
    SGDMYR=X
    9,526.6875-14.9609-0.16%
    SGDIDR=X
    4.5294-0.003-0.07%
    SGDCNY=X
    1.0610+0.0014+0.13%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,199.80-6.50-0.54%
    GCJ15.CMX
    17.07-0.17-0.99%
    SIK15.CMX
    67.73-0.66-0.97%
    ^XAU
    2.77-0.05-1.78%
    HGK15.CMX
    48.87-3.00-5.83%
    CLK15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.42-0.06
    ^FVX
    1.95-0.06
    ^TNX
    2.53-0.07
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.133+0.002+1.53%
    E13.SI
    0.250.00+2.04%
    U09.SI
    0.230.000.00%
    5OC.SI
    0.4350.0000.00%
    E5H.SI
    0.163+0.005+3.16%
    5OU.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.22+0.02+7.32%
    D6U.SI
    0.11+0.01+8.91%
    5MM.SI
    0.66+0.03+4.76%
    5DD.SI
    0.163+0.005+3.16%
    5OU.SI
    1.935+0.090+4.88%
    W05.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.094-0.016-14.55%
    5TN.SI
    0.115-0.012-9.45%
    5NV.SI
    0.80-0.05-5.88%
    M05.SI
    0.43-0.02-4.44%
    MN5.SI
    0.225-0.010-4.26%
    5GJ.SI