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British Pound Sentiment Extreme Suggests Further Losses

British Pound Sentiment Extreme Suggests Further Losses

2011-09-22 17:00:00
Christopher Vecchio, CFA, Sr. Currency Strategist
Share:
ssi_GBP-JPY_body_Picture_5.png, British Pound Sentiment Extreme Suggests Further Losses

GBPJPYThe ratio of long to short positions in the GBP/JPY stands at 21.05 as nearly 95% of traders are long. Yesterday, the ratio was at 30.45 as 97% of open positions were long. In detail, long positions are 22.4% lower than yesterday and 156.5% stronger since last week. Short positions are 12.3% higher than yesterday and 23.5% stronger since last week. Open interest is 21.2% weaker than yesterday and 62.3% above its monthly average. The SSI is a contrarian indicator and signals more GBP/JPY losses.

Written by Christopher Vecchio, Currency Analyst

To contact the author of this report, please send inquiries to: cvecchio@dailyfx.com

Follow Christopher Vecchio on Twitter: @CVecchioFX

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

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