British Pound in Favor Over $1.5400 among Retail FX

GBPUSD - The ratio of long to short positions in the GBPUSD stands at 1.21 as 55% of traders are long. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that the GBPUSD may continue lower. The trading crowd has grown further net-long from yesterday and last week. The combination of current sentiment and recent changes gives a further bearish trading bias.

--- Written by Christopher Vecchio, Currency Strategist