GBP/USD Ratio: -1.39 Signal: Bullish
GBPUSD – GBPUSD speculative positioning has held relatively consistent from week to week since the end of February; but there has been a notable drop in open interest recently that may suggest a shift in sentiment is at hand. The pair’s ratio of long to short positions is at -1.39 compared to the -1.50 level last Thursday. Net positioning dropped 11.2% since last week, adding to the 28% drop in open interest over the previous period. The breakdown of the ratio shows that long positions are 5.3% higher than yesterday, though they have dropped 21.4% since last Wednesday. Short GBPUSD trades on the other hand rose 9.2% from Wednesday and were 2.1% weaker than last week.