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Heavily One-Sided Sentiment Points to British Pound Weakness

Heavily One-Sided Sentiment Points to British Pound Weakness

David Rodriguez, Head of Product

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- Retail FX traders buying aggressively into Sterling declines versus US Dollar

- Euro forecast somewhat unclear as traders take profits on open short positions

- See full analysis below in individual currency sections

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

View individual currency sections:

EURUSD - Retail FX Traders Remain Short Euro versus US Dollar

GBPUSD - Crowds Continue Buying Aggressively into Sterling Weakness

USDJPY - Choppy USDJPY Price Action Makes Next Move Unclear

AUDUSD - Australian Dollar Stands to Rally Further

NZDUSD - New Zealand Dollar Forecast Unclear

GBPJPY - British Pound Likely to Fall Further versus Yen

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

Retail forex traders continue buying aggressively into British Pound weakness, and a contrarian view of crowd sentiment leaves us watching for further weakness.

See specific US Dollar forecasts in the sections above, and sign up for future e-mail updates via this author’s e-mail distribution list.

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--- 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.

Contact David via

Twitter at http://www.twitter.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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