News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
British Pound Likely to Test Critical Lows

British Pound Likely to Test Critical Lows

David Rodriguez, Head of Product
British Pound Likely to Test Critical Lows

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

GBPUSDOne-sided retail FX trader positioning warns that the Sterling may continue to trade into fresh lows versus the resurgent US Dollar.

Trade Implications – GBPUSD: Our data shows that approximately 55 percent of traders in our sample are currently long the GBP versus the USD, which gives us a modestly bearish contrarian trading bias. It’s nonetheless important to note that this is a significant pullback from the 70 percent we saw two months ago. The moderation suggests that momentum will slow as the Sterling approaches critical lows near $1.60.

A sustained flip towards crowd selling would help confirm a potentially important GBPUSD price low. And indeed a GBPUSD break above key trendline resistance favors a larger correction higher.

See next currency section:USDJPY - US Dollar Predicted to Test Highs versus Yen

--- Written by David Rodriguez, Quantitative Strategist for

British Pound Likely to Test Critical Lows

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

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