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These Three Factors Favor Continued British Pound Weakness

These Three Factors Favor Continued British Pound Weakness

2014-07-29 20:30:00
David Rodriguez, Head of Business Development
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- British Pound breaking key lows on strong FX trading volume

- Clear links between Sterling and UK Yields helps explain part of the move

- Sharp swings in forex trader sentiment warn of continued losses.

The British Pound looks at risk of continued weakness as three key factors favor GBPUSD declines.

Follow any updates on the British Pound, US Dollar, and other currencies via this author’s e-mail distribution list.

British Pound Breaks Key Support on Strong Volume, Points to Continuation Lower

These Three Factors Favor Continued British Pound Weakness

Source: FXCM Trading Station Desktop, Prepared by David Rodriguez.

British Pound Yield Advantage Shrinks, Favors Dollar Strength

These Three Factors Favor Continued British Pound Weakness

Data source: Bloomberg, Prepared by David Rodriguez

Retail Forex Traders Turn Net Long the British Pound

These Three Factors Favor Continued British Pound Weakness

Source: FXCM Retail FX Positioning Data, Prepared by David Rodriguez.

Follow any updates on the British Pound, US Dollar, and other currencies via this author’s e-mail distribution list.

Forex Correlations Summary

View forex correlations to the S&P 500, S&P Volatility Index (VIX), Crude Oil Futures prices, US Treasury Yields, and Spot Gold prices.

These Three Factors Favor Continued British Pound Weakness

Data source: Bloomberg. Chart source: R SEE GUIDE ON READING THE ABOVE CHART

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com David specializes in automated trading strategies. Find out more about our automated sentiment-based strategies on DailyFX PLUS.

Contact and follow David via Twitter: https://twitter.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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