British Pound Likely to Fall Further
GBPUSD – A substantial shift in British Pound sentiment suggests that the pair may have set an important short-term top through recent trade, and further declines seem likely. The ratio of long to short positions in the GBPUSD stands at 2.08 as nearly 68% of traders are long. Yesterday, the ratio was at 1.63 as 62% of open positions were long. In detail, long positions are 25.1% higher than yesterday and 4.0% weaker since last week. Short positions are 2.2% lower than yesterday and 31.7% weaker since last week. The SSI is a contrarian indicator and signals more GBPUSD losses.
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