British Pound Forecast Gets Downgraded - Watch for Declines
GBPUSD – A massive shift seen in retail forex trading crowd sentiment leaves us firmly in favor of further GBPUSD declines.
Trade Implications – GBPUSD: Our Momentum2/”Tidal Shift” strategy most recently sold GBPUSD from $1.5377, and I think the position makes sense as high volatility expectations leave scope for further US Dollar strength.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.