British Pound Reversal Potential Persists Heading into New Quarter

| 29 september, 2017 | 0 kommentarer

British Pound Reversal Potential Persists Heading into New Quarter

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GBPUSD: Retail merchant information shows 38.2% of traders are net-long with a ratio of traders brief to prolonged during 1.62 to 1. In fact, traders have remained net-short given Sep 05 when GBPUSD traded nearby 1.29615; cost has changed 3.4% aloft given then. The series of traders net-long is 0.1% aloft than yesterday and 13.4% aloft from final week, while a series of traders net-short is 10.6% reduce than yesterday and 18.3% reduce from final week.

We typically take a contrarian perspective to throng sentiment, and a fact traders are net-short suggests GBPUSD prices might continue to rise. Yet traders are reduction net-short than yesterday and compared with final week. Recent changes in view advise that a stream GBPUSD cost trend might shortly retreat reduce notwithstanding a fact traders sojourn net-short.

— Written by Christopher Vecchio, CFA, Senior Currency Strategist

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Kategori: Analys från DailyFX

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