British Pound Likely to Continue Falling
GBPUSD – A noteworthy jump in GBPUSD long positions warns that the pair could continue its very recent declines. The ratio of long to short positions in the GBPUSD currently stands at 1.82 as nearly 65% of traders are long. This is down slightly from yesterday when the ratio was 1.91 as 66% of open positions were long. In detail, long positions are 2.1% lower than yesterday and a noteworthy 17.1% stronger since last week. Short positions are 2.8% higher than yesterday and 15.7% weaker since last week. Open interest is 0.4% weaker than yesterday and 6.8% above its monthly average. The SSI is a contrarian indicator and signals further GBPUSD losses.
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