FOREX ALERTS >>
DailyFX Plus Login

gbp cot

Article

COT 08/25
Monday, 25 August 2008 16:33:58 GMT  |  Jamie Saettele, Senior Currency Strategist
Delicious
Facebook

GBP: The 52 week COT index is at 0 after having been at 0 the week before.

This reading indicates a bearish sentiment extreme and potential for a low to form.  Also, at -102,891, composite COT is the lowest ever!  The previous low was -92,119 in July 1999.  Cable was in a longer term downtrend at that point but rallied nearly 1,400 pips in less than 3 months following the extreme July 1999 reading.

 

Implications: bottoming

More Articles

Feedback Form