British Pound Trading Outlook Sees Big Change
Trade Implications – GBPUSD: Our sentiment-based trading strategies have recently gone long the GBP as crowds go in the opposite direction—an important shift from just seven days ago. Indeed, our SSI data shows that total retail short positions jumped 20 percent week-over-week, and current sentiment readings favor a test of key GBP resistance through near-term trading.
--- 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.