FOREX ANALYSIS: British Pound Poised for Strength

ssi_gbp-usd_body_Picture_5.png, FOREX ANALYSIS: British Pound Poised for Strength

GBPUSD – Retail forex traders continue selling into British Pound strength against the US Dollar (ticker: USDOLLAR), and a contrarian view of crowd sentiment leaves us in favor of further GBPUSD gains.

One of our sentiment-based trading strategies has most recently gone long the GBPUSD, but it will be important to watch whether the GBP clears key technical resistance at $1.6174. Yet the broader USD downtrend leaves us in favor of continued GBPUSD strength.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2563+0.0009+0.07%
    USDSGD=X
    1.7364+0.0017+0.10%
    EURSGD=X
    2.1087+0.0021+0.10%
    GBPSGD=X
    81.5664-0.1075-0.13%
    SGDJPY=X
    6.1714-0.0042-0.07%
    SGDHKD=X
    2.5991-0.002-0.08%
    SGDMYR=X
    9,256.6074-43.0771-0.46%
    SGDIDR=X
    4.9648-0.0039-0.08%
    SGDCNY=X
    1.1669+0.001+0.08%
    AUDSGD=X
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    Commodities
    NamePriceChange% Chg
    1,284.90+0.30+0.02%
    GCM14.CMX
    19.42-0.01-0.07%
    SIK14.CMX
    92.88+1.82+2.00%
    ^XAU
    3.060.00-0.08%
    HGK14.CMX
    101.53+0.09+0.09%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.71-0.03
    ^FVX
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    ^TNX
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    ^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
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    5WR.SI
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    T16.SI
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    S24.SI
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    C11.SI