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
    1.3329+0.0004+0.03%
    USDSGD=X
    1.4444-0.0031-0.21%
    EURSGD=X
    2.0173-0.0055-0.27%
    GBPSGD=X
    89.5037+0.2842+0.32%
    SGDJPY=X
    5.8146-0.0016-0.03%
    SGDHKD=X
    2.6767-0.0055-0.20%
    SGDMYR=X
    9,759.1738+40.5977+0.42%
    SGDIDR=X
    4.6633+0.0141+0.30%
    SGDCNY=X
    1.0414-0.0007-0.06%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,181.80+6.80+0.58%
    GCM15.CMX
    15.78+0.14+0.92%
    SIK15.CMX
    69.95-0.68-0.96%
    ^XAU
    2.76+0.01+0.33%
    HGK15.CMX
    56.79-0.36-0.63%
    CLM15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.32-0.03
    ^FVX
    1.92-0.03
    ^TNX
    2.62-0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.23+0.01+2.22%
    5GB.SI
    0.85+0.01+1.19%
    N21.SI
    0.2950.0000.00%
    5WA.SI
    0.425-0.005-1.16%
    E5H.SI
    0.41+0.02+5.13%
    5EN.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.184+0.031+20.26%
    W12.SI
    0.225+0.025+12.50%
    D38.SI
    0.12+0.01+11.11%
    E6R.SI
    0.26+0.02+10.64%
    D79.SI
    0.425+0.040+10.39%
    TI6.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.113-0.046-28.93%
    5IF.SI
    0.105-0.020-16.00%
    5DL.SI
    0.50-0.07-12.28%
    D11.SI
    0.197-0.023-10.45%
    AFC.SI
    0.146-0.016-9.88%
    T19.SI