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Looking for British Pound Weakness to Buy the Dip

By , Currency Analyst
02 January 2014 18:00 GMT
ssi_gbp-usd_body_Picture_11.png, Looking for British Pound Weakness to Buy the Dip

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GBPUSDRetail traders remain true to their short GBPUSD bias as the calendar turns, but recent shifts in positioning warrant only a neutral outlook.

Trade Implications – GBPUSD: Crowd sentiment remains near extremes in GBPUSD as retail traders have remained short the pair since breaking through $1.5150 in July. As momentum on daily and weekly charts is firmly higher, setbacks are viewed as potential buying opportunities in the near-term.

--- Written by Christopher Vecchio, Currency Analyst for DailyFX.com

ssi_gbp-usd_body_Picture_12.png, Looking for British Pound Weakness to Buy the Dip

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02 January 2014 18:00 GMT