Skip to content
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.

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
More View more
British Pound Shows Signs of Life on Key Reversal Signals

British Pound Shows Signs of Life on Key Reversal Signals

David Rodriguez, Head of Product

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

GBPUSD The British Pound is finally showing signs of turnaround as a key reversal price pattern and shift in sentiment points to further short-term gains.

Trade Implications – GBPUSD: Last week we cited extremely one-sided retail FX trader positioning as a key reason the Sterling would continue lower—open long positions outnumbered those short by 2 to 1. Yet long positions have tumbled by nearly 30 percent while short positions are barely changed.

It is clearly early, but a noteworthy reversal pattern and a shift in sentiment suggests the GBP could bounce further through near-term trading.

See next currency section: USDJPY - Japanese Yen Remains in Control versus US Dollar

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

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