(MENAFN- DailyFX) DailyFX.com - r>
Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
GBPUSD – Retail forex traders remain heavily long the British Pound versus the US Dollar and until that changes we’ll remain in favor of further Sterling weakness.
Trade Implications – GBPUSD: Last week we highlighted key reasons that the GBPUSD may reverse and turn higher. Yet we haven’t seen the material shift in trader sentiment and positions necessary to confirm a price extreme. Our Senior Technical Strategist highlights key support at $1.6565 as a potential price floor and we would need to see a rally above $1.6737 for a realistic chance at a larger turn higher.
" style="text-align:justify">
See next currency section:USDJPY - Could Finally be Start of US Dollar Breakout vs Yen
" style="text-align:justify">
-- Written by David Rodriguez Quantitative Strategist for DailyFX.com
" style="text-align:justify">
Automate our SSI-based trading strategies via Mirror Trader free of charge
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
original source
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.