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  • USD/JPY trades to a fresh weekly high (110.17) as longer-dated US Treasury yields recover ahead of the Federal Reserve interest rate decision. Get your $USDJPY market update from @DavidJSong here:https://t.co/9iWCr5sxZS https://t.co/RDUNS9V0Vn
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.10% 🇪🇺EUR: 0.03% 🇯🇵JPY: -0.02% 🇨🇦CAD: -0.29% 🇦🇺AUD: -0.40% 🇳🇿NZD: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/1QhBhWISuN
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  • $GBPUSD: Range is breaking to downside, watch trend-line support. A break out of the range may not be clean, need to be nimble. Get your market update from @PaulRobinsonFX here:https://t.co/RB7i1fbzvv https://t.co/pwJPnLhw6t
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.19% Gold: -0.24% Silver: -0.93% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/GZEKTPfr86
  • 🇺🇸 NAHB Housing Market Index (JUN) Actual: 81 Expected: 83 Previous: 83 https://www.dailyfx.com/economic-calendar#2021-06-15
  • 🇺🇸 Business Inventories MoM (APR) Actual: -0.2% Expected: -0.1% Previous: 0.2% https://www.dailyfx.com/economic-calendar#2021-06-15
  • IG Client Sentiment Update: Our data shows the vast majority of traders in USD/CHF are long at 74.02%, while traders in France 40 are at opposite extremes with 80.05%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/sFrrynaDw7
  • $Gold setting up camp on this support, same spot of prior confluent resistance from the bull flag breakout $GC $GLD https://t.co/FE5bl3c9gW
Crowds Continue Buying Aggressively into Sterling Weakness

Crowds Continue Buying Aggressively into Sterling Weakness

David Rodriguez, Head of Product
Crowds Continue Buying Aggressively into Sterling Weakness

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

GBPUSD The ratio of long to short positions in the GBPUSD stands at 2.32 as 70% of traders are long. Yesterday the ratio was 1.03; 51% of open positions were long. Long positions are 59.8% higher than yesterday and 48.1% above levels seen last week. Short positions are 28.8% lower than yesterday and 11.4% below levels seen last week. Open interest is 16.2% higher than yesterday and 15.8% above its monthly average. 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.

See next currency section:USDJPY - Choppy USDJPY Price Action Makes Next Move Unclear

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

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