Trade Implications – GBPUSD: Past performance is not indicative of future results, but our Momentum2/”Tidal Shift” strategy has done well trading the GBPUSD through recent price action. That system remains short from $1.5100 and is floating a respectable profit. But we’re wary of jumping into fresh GBPUSD-short positions as there’s clear risk of a short-term sentiment extreme and a similarly significant GBPUSD bounce.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
Automate our SSI-based trading strategies via Mirror Trader free of charge
To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.
Contact David via
Twitter at http://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.