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  • 🇬🇷 Unemployment Rate (JAN) Actual: 16.0% Previous: 15.8% https://www.dailyfx.com/economic-calendar#2021-05-17
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/EihvlFd7F7
  • 🇪🇸 Balance of Trade (MAR) Actual: €411.9M Previous: €-1.082B https://www.dailyfx.com/economic-calendar#2021-05-17
  • 🇮🇹 Inflation Rate YoY Final (APR) Actual: 1.1% Expected: 1.1% Previous: 0.8% https://www.dailyfx.com/economic-calendar#2021-05-17
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.36%, while traders in France 40 are at opposite extremes with 77.35%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/C04UY1TrKt
  • Heads Up:🇪🇸 Balance of Trade (MAR) due at 08:00 GMT (15min) Previous: €-1.082B https://www.dailyfx.com/economic-calendar#2021-05-17
  • Heads Up:🇮🇹 Inflation Rate YoY Final (APR) due at 08:00 GMT (15min) Expected: 1.1% Previous: 0.8% https://www.dailyfx.com/economic-calendar#2021-05-17
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Silver: 0.92% Gold: 0.46% Oil - US Crude: 0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/q8j625VBrH
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.15% 🇬🇧GBP: 0.15% 🇪🇺EUR: -0.01% 🇨🇦CAD: -0.04% 🇦🇺AUD: -0.23% 🇳🇿NZD: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/KI9zfLbuG7
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: France 40: 0.37% FTSE 100: 0.03% Germany 30: 0.01% US 500: -0.10% Wall Street: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/EUJCUVLPjr
British Pound Forecast Hinges on the Crowd’s Next Move

British Pound Forecast Hinges on the Crowd’s Next Move

David Rodriguez, Head of Product
British Pound Forecast Hinges on the Crowd’s Next Move

Why and how do we use IG Client Sentiment in trading? See our guide and real-time data.

GBPUSD: Retail trader data shows 50.1% of traders are net-long with the ratio of traders long to short at 1.01 to 1. The number of traders net-long is 5.3% lower than yesterday and 1.6% higher from last week, while the number of traders net-short is 11.4% higher than yesterday and 0.8% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBPUSD prices may continue to fall. Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further mixed GBPUSD trading bias.

See next article in this week’s report:USDJPY - US Dollar Likely to Fall even Further versus Japanese Yen

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

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