British Pound Outlook Unclear Against Sinking US Dollar

GBPUSD - British Pound speculators continue to bet that the GBP/USD will bounce through short-term trade, but sentiment is thus far not giving us a clear forecast of what to expect through upcoming price action. The ratio of long to short positions in the GBP/USD stands at 1.24, as 55 percent of traders are currently long the British Pound against the US Dollar. Though this shows that the trading crowd maintains a bullish bias, sentiment is thus far not extreme enough to give us a clear contrarian signal to go short the GBP/USD. In fact, sentiment is thus far unchanged from yesterday when the same ratio stood at an identical 1.24. Discuss the British Pound with other traders in our forex forum.