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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.20%, while traders in GBP/JPY are at opposite extremes with 69.96%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/OQu3NemWeA
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.08% 🇨🇭CHF: -0.09% 🇦🇺AUD: -0.21% 🇳🇿NZD: -0.28% 🇨🇦CAD: -0.29% 🇬🇧GBP: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/An810rm9x6
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.24% France 40: -0.29% Wall Street: -0.35% US 500: -0.39% Germany 30: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/yplqPaVCJ8
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/Ugv151eibY
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/H2xUrnaSKU
  • RT @FxWestwater: Australian Dollar Forecast: $AUDUSD Uptrend in Focus as #RBA Holds Policy Steady Link: https://www.dailyfx.com/forex/market_alert/2021/03/02/Australian-Dollar-Forecast-AUDUSD-Uptrend-in-Focus-as-RBA-Holds-Policy-Steady.html?ref-author=Westwater https://t.…
  • Overall quiet reaction from $AUDUSD to the #RBA rate decision Most notable update likely has to do with them letting the markets know that they could do more adjustments to bond purchases given rising yields But that may have already been priced in... https://t.co/rol1p1WcAw
  • RBA: Bond purchases brought forward this week to assist market -BBG #RBA
  • RBA: Lending conditions remain sound, important to remain so. Committed to 3-year target, will continue buys as needed -BBG
  • RBA: Board will not raise rates until CPI at target range, global bond yield swings have made other assets volatile. Prepared to make further adjustments to bond buys -BBG #RBA
British Pound Forecast to Fall even Further versus Dollar

British Pound Forecast to Fall even Further versus Dollar

David Rodriguez, Head of Product
British Pound Forecast to Fall even Further versus Dollar

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

GBPUSD An aggressive breakdown in the British Pound has been met with a sharp build in retail FX trader buying, and a contrarian view of crowd sentiment leaves us focused on further losses.

Trade Implications – GBPUSD: Our trader sample shows that GBPUSD long positions now outnumber short positions by more than 2 to 1—matching extremes seen through November and August breakdowns. Such heavily one-sided sentiment warns that the Sterling may be near an important turn, but such reversals and sentiment extremes are only clear in hindsight.

We will remain focused on British Pound selling opportunities until we see a substantial shift in crowd sentiment.

See next currency section:USDJPY - Japanese Yen Downtrend Intact, but Watch Next Moves

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

British Pound Forecast to Fall even Further versus Dollar

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.

DISCLOSURES