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British Pound Outlook Remains Strongly Bearish

British Pound Outlook Remains Strongly Bearish

2010-05-27 14:20:00
Antonio Sousa, Chief Strategist
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SSI 10-05-27_gbpusd

The ratio of long to short positions in the GBPUSD stands at 1.29 as nearly 56% of traders are long, according to the FXCM SSI which measures the positioning of thousands of retail traders. Last week, the ratio was at -1.23 as 55% of open positions were short. Retail traders have been buying the GBPUSD and long positions are up by 4.8% since last week. The SSI is a contrarian indicator and signals more GBPUSD losses.

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