British Pound Outlook Remains Strongly Bearish
GBPUSD – The ratio of long to short positions in the GBPUSD stands at 1.69 as nearly 63% of traders are long. Yesterday, the ratio was at 1.31 as 57% of open positions were long. In detail, long positions are 13.7% higher than yesterday and 7.3% stronger since last week. Short positions are 12.0% lower than yesterday and 8.7% stronger since last week. Open interest is 2.6% stronger than yesterday and 13.6% below its monthly average. The SSI is a contrarian indicator, and two of our sentiment-based trading strategies have accordingly taken a short position.
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