[B]GBP Signal: Neutral[/B]
[B]GBP: [/B]British Pound positioning data is similar to the euro, as the currency continues to set new peaks despite comparatively limited speculative interest. This has historically allowed for further rallies in a given currencies, but we likewise note that it represents a sizeable bearish divergence in speculative sentiment and price action. The mixed assessment on the British Pound leaves us with little choice but to expect further medium term rallies before we see further sentiment extremes.