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GBPUSD - Forex Trading Markets Remain Indecisive on the GBPUSD
Thursday, 11 September 2008 13:00:11 GMT  |  David Rodriguez, Quantitative Analyst
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GBP/USD Ratio: 1.04
Trading Signal: Bearish

Forex Positioning in the British Pound/US Dollar

 

Currency

Last Week

Present*

% Long

% Change in Positions Outstanding

Signal

GBPUSD

-1.11

1.04

51

-11.90

Bearish

Forex_Trading_2008-09-11_3

GBPUSD – Forex trading speculators have been especially indecisive with the British Pound/US Dollar currency pair, as currency position shows traders have flipped between net-long and net-short several times within this past week of trade. It seems as though the clearly extensive moves in the GBPUSD has left forex traders with relatively little bias, and we see that our Speculative Sentiment indicator remains close to parity. The ratio of long to short positions in the GBPUSD stands at 1.05 as nearly 51% of traders are long. Yesterday, the ratio was at -1.09 as 52% of open positions were short. In detail, long positions are 18.9% higher than yesterday and 26.5% weaker since last week. Short positions are 3.9% higher than yesterday and 11.6% stronger since last week. Open interest is 11.1% stronger than yesterday and 10.8% below its monthly average. The SSI is a contrarian indicator and technically signals more GBPUSD losses. Yet we will wait to see a more extreme reading before giving a clearer GBPUSD forecast.

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