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Forex Trading Signals Forecast GBPUSD Gains

Friday, 12 September 2008 13:55:29 GMT

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Written by David Rodriguez, Quantitative Analyst
Our Forex Buy/Sell Trading Signals have been aggressively buying the British Pound against the US dollar, with three different trading signals forecasting short-term GBPUSD gains. Two FXCM SSI-based strategies, Breakout2 and Momentum2, predict that a shift in forex sentiment supports a further GBPUSD recovery. A price-based Breakout1 signal predicts that the forex pair’s break above intraday highs and overall market volatility will be enough to send the GBPUSD higher through near-term forex trading.

Forex Trading Signals for the GBPUSD

GBPUSD_2008-09-12

Such trade signals are almost entirely consistent with our more discretionary DailyFX.com forex analysis, as we have been calling for a short-term GBPUSD recovery through the past week of trading. Our recent Forex Futures Commitment of Traders analysis showed that speculators had become extremely net-long the US dollar. Though the US dollar may continue to gain through the medium term, it seems that a further short-term correction of strength is likely.
See more Forex Buy/Sell Signals on DailyFX+ and be sure to monitor any updates on these specific signals, as our automated forex signals can and do change on a daily and intraday basis.
For more information and guides on using our DailyFX Buy/Sell Signals, see our Weekly Forex Trading Strategy Outlook report.
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