Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
GBPUSD – Retail forex traders have sold aggressively into the recent British Pound bounce, leaving us in favor of further short-term GBPUSD gains.
Trade Implications – GBPUSD: Our purely sentiment-based Momentum2 strategy most recently sold into GBPUSD weakness and closed out the position at a modest gain. Yet traders continue selling into the recent British Pound bounce, and in fact the same strategy may soon go in the opposite direction. Our Senior Technical Strategist nonetheless warns that a GBP stall at range highs would favor the downside.
— Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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 https://www.twitter.com/DRodriguezFX
Facebook at https://www.Facebook.com/DRodriguezFX