GBPUSD – Our forex trading strategies are once again aggressively long the British Pound versus the US Dollar, as a sharp shift in crowd sentiment suggests further gains are likely. The ratio of long to short positions in the GBPUSD stands at -1.88 as nearly 65% of traders are short. Yesterday, the ratio was at 1.36 as 58% of open positions were long. In detail, long positions are 34.6% lower than yesterday and 2.6% stronger since last week. Short positions are 67.1% higher than yesterday and 36.5% stronger since last week. The very sharp shift in positioning gives us a contrarian bullish bias, but it will be critical to watch whether the GBPUSD can break key range highs.
