Signal: Short-term bearish, long-term bullish.
GBP: Our COT index readings for the GBPUSD are significantly less clear, as our longer-term outlook remains bullish while the shorter-term suggests that we have seen a multi-week GBPUSD top. Indeed, our 13-week indicator has just turned down from extremes of 100/100, and a similar reaction in price implies that we may see further British Pound losses through the near term. Longer-term, a 52-week Index at 29 tells us that the GBPUSD may resume its uptrend after further short-term corrections.
