FOREX ANALYSIS: British Pound Sees Reversal Risk Near High

ssi_aud-usd_body_Picture_6.png, FOREX ANALYSIS: British Pound Sees Reversal Risk Near High

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.

Crowds are now their most net-short GBPUSD since the pair last tested trading range highs of $1.6175. There is considerable risk that the British Pound may fail to break substantively higher, but our technical forecast likewise points to important support at $1.6100 and $1.6000.

--- 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.

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
    1.3699-0.0011-0.08%
    USDSGD=X
    1.4892-0.0015-0.10%
    EURSGD=X
    2.0327-0.0027-0.13%
    GBPSGD=X
    87.0421+0.0691+0.08%
    SGDJPY=X
    5.6601+0.0042+0.07%
    SGDHKD=X
    2.6775+0.0026+0.10%
    SGDMYR=X
    9,530.5361+28.3457+0.30%
    SGDIDR=X
    4.5361+0.0063+0.14%
    SGDCNY=X
    1.0686-0.0042-0.39%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,203.60-1.20-0.10%
    GCJ15.CMX
    17.06-0.08-0.47%
    SIK15.CMX
    68.39-1.10-1.58%
    ^XAU
    2.79-0.02-0.78%
    HGK15.CMX
    50.41-1.02-1.98%
    CLK15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.47+0.06
    ^FVX
    2.01+0.09
    ^TNX
    2.60+0.10
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.42+0.01+3.70%
    E5H.SI
    0.168+0.005+3.07%
    5GB.SI
    0.935+0.005+0.54%
    N21.SI
    0.124+0.008+6.90%
    E13.SI
    0.285-0.005-1.72%
    5WA.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.135+0.010+8.00%
    40E.SI
    0.315+0.025+8.62%
    T4B.SI
    0.38+0.03+7.04%
    D03.SI
    0.124+0.008+6.90%
    E13.SI
    0.30+0.01+3.45%
    S56.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.113-0.006-5.04%
    5WV.SI
    1.862-0.095-4.85%
    O9D.SI
    0.23-0.01-4.17%
    5UE.SI
    0.235-0.005-2.08%
    5GJ.SI
    0.132-0.005-3.65%
    C3T.SI