British Pound Remains a Buy versus US Dollar
Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
Trade Implications – GBPUSD: Our purely retail sentiment-based Momentum2 has had mixed results trading the GBP in recent weeks as it trades in a broad and choppy range. But it is likely to go long as the currency trades at fresh month-to-date peaks.
We wouldn’t necessarily advocate getting long ahead of tomorrow’s potentially significant US Nonfarm Payrolls report, but we’ll look to buy into further GBPUSD strength.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
Automate our SSI-based trading strategies via Mirror Trader free of charge
To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.
Contact Christopher via
Twitter at http://www.twitter.com/CVecchioFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.