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EUR/USD
Bearish
Low
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of clients are net long.
of clients are net short.
Long Short

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of clients are net long.
of clients are net short.
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  • Heads Up:🇯🇵 Eco Watchers Survey Outlook (FEB) due at 06:00 GMT (15min) Previous: 39.9 https://www.dailyfx.com/economic-calendar#2021-03-08
  • Heads Up:🇯🇵 Eco Watchers Survey Current (FEB) due at 06:00 GMT (15min) Previous: 31.2 https://www.dailyfx.com/economic-calendar#2021-03-08
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.46%, while traders in France 40 are at opposite extremes with 76.00%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7GEejdJ4ZR
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.26% 🇯🇵JPY: 0.03% 🇨🇦CAD: 0.02% 🇬🇧GBP: -0.06% 🇳🇿NZD: -0.06% 🇨🇭CHF: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/RksdDJPivS
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.80% France 40: 0.61% Germany 30: 0.41% Wall Street: 0.04% US 500: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/PDpZBRrLRJ
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British Pound Forecast Calls for Continued Weakness

British Pound Forecast Calls for Continued Weakness

David Rodriguez, Head of Product
British Pound Forecast Calls for Continued Weakness

Why and how do we use the SSI in trading? View our video and download the free indicator here

GBPUSD– Heavily one-sided retail FX trader positioning warns that the British Pound will likely continue to fall versus the US Dollar and other major counterparts. And indeed, we have said much of the same through the past two weeks as crowds buy aggressively into GBP/USD weakness.

Our data shows over two-thirds of open GBP/USD positions are long, and a contrarian view of crowd sentiment leaves us with a clear bearish trading bias. Only a marked shift in the opposite direction would negate our forecast for British Pound depreciation.

See next currency section: USDCAD - Canadian Dollar Unlikely to Trade Significantly Higher

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

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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