GBPUSD – The relative outperformance of the British Pound through recent trade has meant that traders have bought less aggressively into GBPUSD weakness, giving a fairly mixed bias on the currency pair. The ratio of long to short positions in the GBPUSD stands at -1.43 as nearly 59% of traders are short. Yesterday, the ratio was at -1.47 as 59% of open positions were short. In detail, long positions are 2.9% higher than yesterday and 23.1% stronger since last week. Short positions are 0.2% higher than yesterday and 23.3% weaker since last week. Open interest is 1.3% stronger than yesterday and 9.4% above its monthly average. The SSI is a contrarian indicator and ostensibly signals further GBPUSD gains. Yet the relatively neutral -1.42 hardly gives us a strong directional bias.
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