Looking for British Pound Weakness to Buy the Dip
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GBPUSD – Retail traders remain true to their short GBPUSD bias as the calendar turns, but recent shifts in positioning warrant only a neutral outlook.
Trade Implications – GBPUSD: Crowd sentiment remains near extremes in GBPUSD as retail traders have remained short the pair since breaking through $1.5150 in July. As momentum on daily and weekly charts is firmly higher, setbacks are viewed as potential buying opportunities in the near-term.
--- Written by Christopher Vecchio, Currency Analyst for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.