British Pound Set to Gain Further against US Dollar
GBPUSD – The ratio of long to short positions in the GBPUSD stands at -2.85 as nearly 74% of traders are short. Yesterday, the ratio was at -2.57 as 72% of open positions were short. In detail, long positions are 4.0% lower than yesterday and 8.5% stronger since last week. Short positions are 6.2% higher than yesterday and 3.4% weaker since last week. Open interest is 3.3% stronger than yesterday and 3.0% above its monthly average. The SSI is a contrarian indicator and signals more GBPUSD gains.
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--- Written by Christopher Vecchio, Currency Analyst for DailyFX.com
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