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British Pound Likely to Continue Falling

British Pound Likely to Continue Falling

2011-05-19 14:52:00
David Rodriguez, Head of Business Development
Share:
ssi_gbp-usd_body_Picture_8.png, British Pound Likely to Continue Falling

GBPUSDA 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.

To get on the mailing list for the SSI and other reports from author David Rodriguez, e-mail subject line “Distribution list” to

drodriguez@dailyfx.com

How do we interpret the SSI? Watch an FXCM Expo Presentation that explains the SSI.

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