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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.


Aggressive Shift in Forex Trader Sentiment Favors British Pound Strength

Aggressive Shift in Forex Trader Sentiment Favors British Pound Strength

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

GBPUSD The ratio of long to short positions in the GBPUSD stands at -1.44 as 41% of traders are long. Yesterday the ratio was 1.07; 52% of open positions were long. Long positions are 2.4% lower than yesterday and 45.4% below levels seen last week. Short positions are 49.8% higher than yesterday and 138.7% above levels seen last week. Open interest is 22.8% higher than yesterday and 25.3% above its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the GBPUSD may continue higher. The trading crowd has flipped from net-long to net-short from yesterday and last week. The combination of current sentiment and recent changes gives a further bullish trading bias.

See next currency section:USDJPY - Build in US Dollar Buying Points to USDJPY Declines

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

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