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  • The British Pound could remain vulnerable against the US Dollar while perhaps looking to push higher against the Australian Dollar, Canadian Dollar and New Zealand Dollar.Get your market update from @ddubrovskyFX here:https://t.co/9iZa4oE4WQ https://t.co/wyhhb4Jqxa
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  • 🇯🇵 Industrial Production YoY Prel (JUN) Actual: 22.6% Previous: 21.1% https://www.dailyfx.com/economic-calendar#2021-07-29
  • 🇯🇵 Retail Sales YoY (JUN) Actual: 0.1% Expected: 0.2% Previous: 8.3% https://www.dailyfx.com/economic-calendar#2021-07-29
  • The S&P 500 and Dow Jones could remain biased higher now that retail investors are back to aggressively shorting them. But, will recent shifts in sentiment materially change the broader outlook? Find out from @ddubrovskyFX here:https://t.co/RPirU4f4sp https://t.co/mY3CcB8c3q
  • Heads Up:🇯🇵 Retail Sales YoY (JUN) due at 23:50 GMT (15min) Expected: 0.2% Previous: 8.2% https://www.dailyfx.com/economic-calendar#2021-07-29
  • Heads Up:🇯🇵 Industrial Production YoY Prel (JUN) due at 23:50 GMT (15min) Previous: 21.1% https://www.dailyfx.com/economic-calendar#2021-07-29
  • 🇯🇵 Unemployment Rate (JUN) Actual: 2.9% Expected: 3% Previous: 3% https://www.dailyfx.com/economic-calendar#2021-07-29
  • The British Pound could remain vulnerable against the US Dollar while perhaps looking to push higher against the Australian Dollar, Canadian Dollar and New Zealand Dollar.Get your market update from @ddubrovskyFX here:https://t.co/9iZa4oE4WQ https://t.co/fT1DNXph5D
British Pound Rally May Fail on Substantial Swing in Sentiment

British Pound Rally May Fail on Substantial Swing in Sentiment

David Rodriguez, Head of Product
ssi_gbp-usd_body_Picture_15.png, British Pound Rally May Fail on Substantial Swing in Sentiment

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GBPUSDA substantial shift in retail forex sentiment suggests that the British Pound may trade to further lows against the US Dollar and other major counterparts.

Trade Implications – GBPUSD: Crowds have remained short the British Pound since the pair set an important low and crossed above $1.5200 in July, but long interest has surged 62% since last week and short positions have fallen 9%.

Our purely sentiment-based Momentum2 trading strategy sold GBPUSD from $1.6451 on the important turnaround. And indeed our Senior Technical Strategist warns that the larger GBP rally may fail if it closes below key support.

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

ssi_gbp-usd_body_Picture_16.png, British Pound Rally May Fail on Substantial Swing in Sentiment

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