Signal: Bullish
GBP: The 52 and 13 week COT indexes are at 0 and 0. The implications are the same for the Pound as for the Euro. That is, a bearish sentiment extreme has been registered and the Pound should bottom and begin a rally that lasts weeks, if not longer, very soon (may have bottomed last week). One sign that a bottom is in place is when the Composite COT turns up -- which is at its lowest reading since March 2006.
