ssi_gbp-usd_body_Picture_10.png, British Pound Likely Trades Lower for These Reasons

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

GBPUSD Retail FX traders have bought into recent British Pound weakness, and a contrarian view of crowd sentiment leaves us focused on further short-term losses.

Trade Implications – GBPUSD: The recent Sterling rally put some doubts on our earlier calls for a material turn lower, but a hold below key resistance at $1.6685 leaves our technical bias bearish. Our crowd sentiment indicator likewise suggests GBPUSD could test fresh lows.

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

ssi_gbp-usd_body_Picture_11.png, British Pound Likely Trades Lower for These Reasons

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