GBPUSD – The British pound has hit important highs and retail forex crowds continue selling—we view this as a contrarian signal that the GBPUSD may continue higher.
Trade Implications – GBPUSD: Our purely retail sentiment-based Momentum2/”Tidal Shift” strategy has done well buying into GBPUSD strength. Past performance is not indicative of future results, but it may continue to catch important GBP turns on broader US Dollar weakness.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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