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DailyFX Home / Forex Technical Analysis / Speculative Sentiment Index

SSI: The Speculative Sentiment Index

Symbol LastWeek Present %Long Change:
Open Interest
Signals Chart Links

The SSI is reported Every Thursday at DailyFX.com and twice every trading day inside DailyFX PLUS.


British Pound Outlook Remains Bearish

British Pound Outlook Remains Bearish

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GBPUSD Retail FX trading crowds remain long the British Pound versus the US Dollar, and a contrarian view of crowd sentiment points to further GBPUSD losses.

The ratio of long to short positions in the GBPUSD stands at 1.46 as 59% of traders are long. Yesterday the ratio was 1.36; 58% of open positions were long. Long positions are 0.1% lower than yesterday and 16.5% below levels seen last week. Short positions are 7.1% lower than yesterday and 8.6% above levels seen last week. Open interest is 3.1% lower than yesterday and 7.7% below its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that the GBPUSD may continue lower.

See next currency section:USDJPY - One-sided Sentiment Points to Dollar Weakness, Yen Strength

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

British Pound Outlook Remains Bearish

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