British Pound May Continue to Gain for this Reason
Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
Trade Implications – GBPUSD: Last month we highlighted a critical weekly key reversal in the Sterling which coincided with a material shift in crowd positions. And indeed our medium-term focus remains in favor of a lower GBP/USD exchange rate.
Yet the recent build in GBP short positions warns there may be further upside until a larger turn lower. Such a move might likewise coincide with a material reversal in the US Dollar.
--- 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.