British Pound Remains a Buy versus US Dollar

| 9 januari, 2014 | 0 kommentarer

ssi_gbp-usd_body_Picture_14.png, British Pound Remains a Buy versus US Dollar

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GBPUSDRetail FX traders remain heavily short the British Pound against the US Dollar, and a contrarian view of crowd sentiment leaves us in favor of further GBPUSD strength.

Trade Implications – GBPUSD: Our purely retail sentiment-based Momentum2 has had mixed results trading the GBP in recent weeks as it trades in a broad and choppy range. But it is likely to go long as the currency trades at fresh month-to-date peaks.

We wouldn’t necessarily advocate getting long ahead of tomorrow’s potentially significant US Nonfarm Payrolls report, but we’ll look to buy into further GBPUSD strength.

Written by David Rodriguez, Quantitative Strategist for DailyFX.com

ssi_gbp-usd_body_Picture_7.png, British Pound Remains a Buy versus US Dollar

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