GBP/USD ratio: -1.59
Trading Forecast: Bullish
GBPUSD –Our forex trading signals remain effectively flat the British Pound against the US Dollar, as choppy price action has left one SSI-based strategy short while another has gone long. The ratio of long to short positions in the GBPUSD stands at -1.60 as nearly 62% of traders are short. Yesterday, the ratio was at -2.12 as 68% of open positions were short. In detail, long positions are 29.2% higher than yesterday and 27.5% weaker since last week. Short positions are 2.3% lower than yesterday and 14.1% stronger since last week. The surge in long orders suggests that crowd sentiment has seen a noteworthy shift and would normally give us contrarian signal to go short, but we remain cautious on unpredictable price action.
