British Pound Remains at Risk versus Euro, Dollar
Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
Trade Implications – GBPUSD: Last week we highlighted a potentially significant weekly key reversal alongside a major turn in Sterling positioning as a key reason that the GBP would stay below major multi-year peaks. It’s difficult to get excited about buying the US Dollar as it tumbles versus the Euro and other major counterparts, but a GBP hold below $1.6822 leaves us looking for weakness.
--- 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 David via
Twitter at http://www.twitter.com/DRodriguezFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.