British Pound Bias Turns Bearish
GBPUSD – Forex trading crowds remain fairly net-long the British Pound against the US Dollar. The ratio of long to short positions in the GBPUSD stands at 1.85 as nearly 65% of traders are long. Yesterday, the ratio was at 1.68 as 63% of open positions were long. In detail, long positions are 2.4% higher than yesterday and 0.9% weaker since last week. Short positions are 7.2% lower than yesterday and 17.9% weaker since last week. Open interest is 1.2% weaker than yesterday and 0.6% below its monthly average. The SSI is a contrarian indicator and signals more GBPUSD losses.
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