British Pound Outlook Remains Strongly Bearish
GBPUSD – The ratio of long to short positions in the GBPUSD stands at 1.42 as nearly 59% of traders are long. Yesterday, the ratio was at 1.26 as 56% of open positions were long. In detail, long positions are 7.8% higher than yesterday and 19.1% weaker since last week. Short positions are 3.8% lower than yesterday and 17.5% stronger since last week. Open interest is 2.7% stronger than yesterday and 11.3% below its monthly average. The SSI is a contrarian indicator and signals more GBPUSD losses, and two of our SSI-based trading strategies are accordingly short.
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