British Pound Outlook Remains Strongly Bearish
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.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.