British Pound is a Sell versus the Dollar until this Changes
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British Pound is a Sell versus the Dollar until this Changes

DailyFX.com -

British Pound is a Sell versus the Dollar until this Changes

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GBPUSD - The ratio of long to short positions in the GBPUSD stands at 2.37 as 70% of traders are long. Yesterday the ratio was 2.48; 71% of open positions were long. Long positions are 4.6% lower than yesterday and 24.8% above levels seen last week. Short positions are 0.1% lower than yesterday and 16.8% below levels seen last week.

We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that the GBPUSD may continue lower. The trading crowd has grown less net-long from yesterday but further long since last week. The combination of current sentiment and recent changes gives a further mixed trading bias.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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