British Pound Set to Reverse July Strength
The ratio of long to short positions in the GBPUSD stands at 1.55 as nearly 61% of traders are long. Yesterday, the ratio was at 1.61 as 62% of open positions were long. In detail, long positions are 7.9% lower than yesterday and 30.5% stronger since last week. Short positions are 4.7% lower than yesterday and 35.2% weaker since last week. Open interest is 6.6% weaker than yesterday and 9.1% below its monthly average. The SSI is a contrarian indicator and signals more GBPUSD losses.
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--- Written by Christopher Vecchio, Currency Analyst for DailyFX.com
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