GBP/USD Ratio: -1.24 Trading Signal: Bullish
GBPUSD – Forex trading speculators have continued selling the GBPUSD, and our Speculative Sentiment Index accurately forecast British Pound gains against the US Dollar. As with the euro, however, traders have scaled back positioning rather dramatically on the pair, and open interest is 23.2 percent below its monthly average. The SSI Ratio currently stands at -1.25, as 55 percent of traders are short the GBPUSD. When traders are short but begin reducing exposure, overall direction in the forex pair remains higher while there remain risks of a shorter-term pullback.