Forex Analysis: British Pound Rallies May be Sold

ssi_gbp-usd_body_Picture_8.png, Forex Analysis: British Pound Rallies May be Sold

GBPUSD – Retail FX traders have bought aggressively into British Pound weakness against the US Dollar (ticker: USDOLLAR), and in fact crowds are now their most net-long GBPUSD since the pair last traded towards multi-year lows at $1.53. Total long interest has surged 50 percent week-over-week, giving further contrarian signal that the pair may continue lower.

Trade Implications – GBPUSD: Our sentiment-based trading strategies have sold the British Pound against the USD and Japanese Yen. We will continue to call for further weakness unless we see a substantive shift in crowd sentiment.

--- 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 https://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.

--

Did you know that you can get stories like this on the Yahoo mail app?
Download it here.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3492-0.0026-0.19%
    USDSGD=X
    1.4938+0.0096+0.65%
    EURSGD=X
    2.1064+0.0046+0.22%
    GBPSGD=X
    90.8466+0.6003+0.67%
    SGDJPY=X
    5.7463+0.0113+0.20%
    SGDHKD=X
    2.8357+0.0333+1.19%
    SGDMYR=X
    9,857.0742-31.9688-0.32%
    SGDIDR=X
    4.6016+0.0103+0.22%
    SGDCNY=X
    1.0144+0.0035+0.35%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,167.00+2.40+0.21%
    GCV15.CMX
    15.72+0.10+0.65%
    SIZ15.CMX
    63.47+0.83+1.32%
    ^XAU
    2.54-0.09-3.50%
    HGU15.CMX
    54.15-2.78-4.88%
    CLQ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.59-0.05
    ^FVX
    2.33-0.06
    ^TNX
    3.13-0.06
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.168+0.012+7.69%
    5DN.SI
    0.295-0.005-1.67%
    5WA.SI
    0.172-0.020-10.42%
    5GB.SI
    0.715-0.035-4.67%
    N21.SI
    0.905-0.005-0.55%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.335+0.085+34.00%
    Y06.SI
    0.335+0.030+9.84%
    UQ4.SI
    0.245+0.020+8.89%
    H64.SI
    0.595+0.045+8.18%
    AWK.SI
    0.168+0.012+7.69%
    5DN.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.192-0.048-20.00%
    MR8.SI
    0.091-0.018-16.51%
    5PO.SI
    0.151-0.019-11.18%
    K22.SI
    0.172-0.020-10.42%
    5GB.SI
    1.265-0.130-9.32%
    T14.SI