GBP/USD Ratio: 2.13 Signal: Bearish
GBPUSD – Currency traders continue buying the British Pound, and the currency continues to see significant drops against the US dollar. The ratio of long to short positions in the GBPUSD stands at 2.04 as nearly 67% of traders are long. We see similar forex position changes in the GBPUSD as we did in the EURUSD; long positions have gained an incredible 80.6 while shorts have fallen 12.2 percent. Given that the SSI tends to be a strong contrarian signal in trending markets, the current reading tells us that we may look to sell the GBPUSD through upcoming trading. Read our British Pound Technical Outlook for a slightly different opinion.