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British Pound Forecast Remains Bearish
Thursday, 05 March 2009 13:43:37 GMT  |  David Rodriguez, Quantitative Analyst
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GBP/USD ratio: 1.27
Trading Forecast: Bearish

British Pound/US Dollar

GBPUSD – One-sided trader sentiment has left our forex trading strategies heavily short the GBP/USD. The ratio of long to short positions in the GBPUSD stands at 1.27 as nearly 56% of traders are long. Yesterday, the ratio was at 1.18 as 54% of open positions were long. In detail, long positions are 32.0% higher than yesterday and a massive 100.7% stronger since last week. Short positions are 22.9% higher than yesterday and 25.0% stronger since last week. Open interest is 27.8% stronger than yesterday and 51.4% above its monthly average. Aggressive forex crowd GBP/USD buying signals that further losses are likely.

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