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of clients are net long.
of clients are net short.
Long Short

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  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.04% 🇯🇵JPY: -0.09% 🇨🇭CHF: -0.16% 🇦🇺AUD: -0.37% 🇬🇧GBP: -0.59% 🇳🇿NZD: -0.61% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/X568Rs9WtB
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  • #Gold rose to a fresh two month high today just shy of the 1,800 level. The precious metal has since dropped slightly lower and is currently trading around 1,780 as US 10yr yields rose to an intraday high. $XAU $GLD https://t.co/oeY1Hkh0Eg
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British Pound Breakdown Confirmed, Look for Losses

British Pound Breakdown Confirmed, Look for Losses

David Rodriguez, Head of Product
British Pound Breakdown Confirmed, Look for Losses

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

GBPUSD A substantial reversal in the British Pound produced a similarly significant turn in sentiment, and our retail FX positioning data points to further GBPUSD declines.

Trade Implications – GBPUSD: Last week we noted that a shift in crowd sentiment helped confirm an important Sterling turn lower, and indeed our sample shows that the trading herd is now net-long the GBPUSD for the first time since it traded near $1.55 in August, 2013.

The difficulty is now finding an attractive entry point for a short position. The GBPUSD has now fallen in 14 of the past 16 trading days, and momentum is clearly stretched. We remain bearish as long as price remains below $1.70, and there’s little significant support before June lows near $1.67.

See next currency section:USDJPY - Key Factors Favor a Much Larger USDJPY Breakout

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

British Pound Breakdown Confirmed, Look for Losses

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