Singapore Markets open in 4 hrs 32 mins

British Pound Rallies Offer Short Opportunities

David Rodriguez


ssi_gbp-usd_body_Picture_8.png, British Pound Rallies Offer Short Opportunities

GBPUSD – Retail FX traders remain long the British Pound against the US Dollar (ticker: USDOLLAR), but recent GBPUSD consolidation has produced similarly sideways moves in crowd sentiment and positioning. Crowds remain near their most net-long GBPUSD since the pair last traded towards multi-year lows at $1.53. Yet long interest has fallen 19 percent since last week.


Trade Implications – GBPUSD: Our sentiment-based trading strategies have closed their British Pound short positions. They will once again sell if and when we see a build in crowd long positions and a break lower.


--- 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 http://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.