GBP/USD Ratio: -1.30
Signal: Bullish
| Currency | Last Week | Present* | % Long | % Change in Positions Outstanding | Signal |
| GBPUSD | -1.06 | -1.30 | 44% | -29.34% | Bullish |
GBPUSD – The pound saw a massive reversal last week, and a modest net negative positioning has held throughout the move. The GBPUSD’s SSI reading stood at -1.30, compared to -1.37 from yesterday and -1.06 from last week. The lack of extreme readings this pair has seen recently was interestingly echoed in the sharp drop in open interest from last week. Net positions has also fallen 8.8% from yesterday and is 14.8% below its monthly average. Long positions have seen the most remarkable change, falling 44.6% from last week and 6.0% from Wednesday. Short positions on the other hand have dropped 10.8% from yesterday and 10.7% from last Thursday. Since the SSI is a contrarian reading, the pickup in the negative ratio reading points to gains from GBPUSD.
