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British Pound Remains at Risk versus Euro, Dollar

British Pound Remains at Risk versus Euro, Dollar

David Rodriguez, Head of Product
ssi_gbp-usd_body_Picture_15.png, British Pound Remains at Risk versus Euro, Dollar

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GBPUSDRetail FX crowds continue selling aggressively into British Pound strength, but we think the GBPUSD may remain below key highs.

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

ssi_gbp-usd_body_Picture_7.png, British Pound Remains at Risk versus Euro, Dollar

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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