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

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3294-0.007-0.52%
    USDSGD=X
    1.4883+0.0045+0.30%
    EURSGD=X
    2.0799-0.0129-0.62%
    GBPSGD=X
    90.8467+0.245+0.27%
    SGDJPY=X
    5.8312+0.0293+0.50%
    SGDHKD=X
    2.6969+0.0051+0.19%
    SGDMYR=X
    9,894.2773+81.3359+0.83%
    SGDIDR=X
    4.6634+0.0257+0.55%
    SGDCNY=X
    1.0497-0.0052-0.49%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,211.70+7.60+0.63%
    GCM15.CMX
    17.27+0.14+0.81%
    SIN15.CMX
    71.85-0.22-0.30%
    ^XAU
    2.83-0.02-0.58%
    HGN15.CMX
    60.39-0.33-0.54%
    CLN15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.51-0.04
    ^FVX
    2.18-0.07
    ^TNX
    2.98-0.07
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.295+0.070+31.11%
    AFC.SI
    0.290.000.00%
    5WA.SI
    0.180.00+2.27%
    5OU.SI
    0.215+0.005+2.38%
    5GB.SI
    0.830.000.00%
    N21.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    1.35+0.35+35.00%
    AYN.SI
    0.295+0.070+31.11%
    AFC.SI
    0.27+0.06+28.57%
    AVX.SI
    0.135+0.016+13.45%
    5IF.SI
    0.62+0.06+11.71%
    AWV.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.18-0.02-10.00%
    PH0.SI
    0.15-0.02-9.09%
    5IA.SI
    0.21-0.02-8.70%
    5G1.SI
    0.20-0.02-6.98%
    B1N.SI
    0.765-0.055-6.71%
    533.SI