GBP/USD ratio: -1.54
Trading Forecast: Bullish
GBPUSD –Our forex trading strategies aggressively bought into GBP/USD rallies, but the more recent downturn has led our systems to take profits on previous long positions. The ratio of long to short positions in the GBPUSD stands at -1.51 as nearly 60% of traders are short. Yesterday, the ratio was at -1.25 as 56% of open positions were short. In detail, long positions are 1.0% lower than yesterday and 3.9% weaker since last week. Short positions are 19.6% higher than yesterday and 21.2% stronger since last week. Open interest is 10.4% stronger than yesterday and 9.5% above its monthly average. The SSI is a contrarian indicator and signals further GBPUSD gains.
