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
Gold
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View More
British Pound at Risk of Renewed Declines on a Failure Here

British Pound at Risk of Renewed Declines on a Failure Here

David Rodriguez, Head of Product

NEW: View Real-Time SSI Updates via the FXCM Trading Station Desktop

GBPUSD – Retail forex traders have most recently sold into British Pound gains versus the suddenly-downtrodden US Dollar. Yet our trader data shows that the majority remain net-long and have remained so since the Sterling broke below the $1.56 mark in July. Until we see a more marked shift towards crowd selling we see little reason to abandon our contrarian calls for GBP weakness.

The $1.5650 level represents a major test for the British Pound; whether or not it holds below will likely decide foreseeable direction in the GBP/USD exchange rate.

See next currency section: USDJPY - US Dollar Remains in a Strong Position versus the Japanese Yen

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

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