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Careful on British Pound - Imminent Risk of Further Declines

Careful on British Pound - Imminent Risk of Further Declines

David Rodriguez, Head of Product
ssi_gbp-usd_body_Picture_13.png, Careful on British Pound - Imminent Risk of Further Declines

GBPUSD – Our retail sentiment trading sample shows traders have most recently bought into British Pound weakness, and our technical GBPUSD forecast suggests a short-term top may be in place.

Trade Implications – GBPUSD: Past performance is not indicative of future results, but the Momentum2 system has done well trading the GBPUSD through recent price action and recently captured modest profits on a long position. It may soon flip directions and go short if this is indeed the start of a short-term turn.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

ssi_gbp-usd_body_Picture_7.png, Careful on British Pound - Imminent Risk of Further Declines

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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