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
    1.3489-0.0013-0.10%
    USDSGD=X
    1.4711+0.0028+0.19%
    EURSGD=X
    2.0796+0.0025+0.12%
    GBPSGD=X
    91.1295-0.0237-0.03%
    SGDJPY=X
    5.7473+0.0061+0.11%
    SGDHKD=X
    2.6974+0.0022+0.08%
    SGDMYR=X
    9,808.3271+8.2891+0.08%
    SGDIDR=X
    4.6011+0.0066+0.14%
    SGDCNY=X
    1.0462+0.0017+0.16%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,189.60+2.70+0.23%
    GCM15.CMX
    16.80+0.05+0.29%
    SIN15.CMX
    68.69-2.56-3.59%
    ^XAU
    2.79+0.01+0.32%
    HGN15.CMX
    58.44+0.41+0.71%
    CLN15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.52-0.04
    ^FVX
    2.14-0.08
    ^TNX
    2.89-0.09
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.705+0.005+0.71%
    Q1P.SI
    0.295+0.005+1.72%
    5WA.SI
    0.81-0.01-1.82%
    N21.SI
    0.34+0.01+3.03%
    AFC.SI
    0.915-0.005-0.54%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    1.25+0.24+23.15%
    AYO.SI
    0.189+0.031+19.62%
    GJ8.SI
    0.149+0.014+10.37%
    L10.SI
    1.12+0.09+8.21%
    S85.SI
    0.15+0.01+7.14%
    5MD.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    1.10-0.43-28.10%
    AYN.SI
    0.19-0.06-24.00%
    41H.SI
    0.141-0.039-21.67%
    PH0.SI
    1.50-0.28-15.73%
    AYB.SI
    0.375-0.040-9.64%
    AWK.SI