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
Oil - US Crude
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
Gold
Bullish
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 Looks Likely to Rally Further

British Pound Looks Likely to Rally Further

David Rodriguez, Head of Product
British Pound Looks Likely to Rally Further

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

GBPUSD– Retail FX traders are now net-short the British Pound versus the US Dollar for the first time since the pair set a key top near the $1.33 mark, and a contrarian view of ‘crowd’ sentiment leads us to watch for further GBP/USD gains. Our data has otherwise shown heavily one-sided sentiment in favor of buying into Sterling weakness.

It is possible that the more recent flip to selling may mark another short-term top—much as a similar flip preceded key reversals in the past several months of trading. And indeed a hold below key resistance at $1.3371 would keep the overall bearish trend intact. As it stands we will maintain a contrarian bullish bias, but a reversal and a further flip to crowd buying would quickly act as confirmation of a trend turnaround.

See next currency section: USDJPY - US Dollar Remains a Sell versus Japanese Yen

--- Written by David Rodriguez, Senior 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