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Major Shift in British Pound Sentiment Confirms the Top

Major Shift in British Pound Sentiment Confirms the Top

David Rodriguez, Head of Product
ssi_gbp-usd_body_Picture_14.png, Major Shift in British Pound Sentiment Confirms the Top

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GBPUSDA major turn in British Pound sentiment helps confirm that the GBPUSD likely set an important short-term top.

Trade Implications – GBPUSD: Three weeks ago we highlighted a weekly key reversal in the Sterling which coincided with a material shift in crowd positions. As with most Dollar pairs, Cable has tried our patience as it traded in a broad consolidative range. Yet the break below key support at $1.6560 as well as a material shift in crowd positions warns that the GBPUSD will likely continue lower through near-term trading.

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

ssi_gbp-usd_body_Picture_7.png, Major Shift in British Pound Sentiment Confirms the Top

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

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