British Pound Remains in Clear Downtrend
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Trade Implications – GBPUSD: Our retail FX trader data shows open long positions outnumber those short by 1.5 to 1. This is less extreme than what we saw as the Sterling traded into multi-year lows, but as long as the crowd continues to buy we’ll watch for further weakness.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.