GBPUSD –The FX trading crowd has remained steadily long the British Pound versus the US Dollar, and such consistent positions leave us focused on further Sterling weakness.
Trade Implications – GBPUSD: Our retail FX trader sample has remained steadily long the British Pound since it pair traded below $1.6900. It is certainly worth noting that long interest has fallen to its lowest levels since the GBPUSD failed to trade above $1.70 in July. And yet until we see a more substantial shift in sentiment we see little reason to abandon our long-standing bearish trading bias.
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