GBP/USD: Sterling Shorts Are 9 Percent Fewer Than Last Week, Mostly on Profit Taking

[B]GBP/USD: Ratio -1.36[/B]

[B]Signal: Bullish[/B]

Currency Last Week Present % Long % Change in Positions Outstanding Signal

 GBP/USD        - 2.38        -1.36     42%        1.24%                Bullish


GBPUSD - The ratio of long to short positions in the GBPUSD stands at -1.34 as nearly 57% of traders are short. Yesterday, the ratio was at -1.55 as 61% of open positions were short. In detail, long positions are 5.3% higher than yesterday and 16.3% stronger since last week. Short positions are 8.6% lower than yesterday and 9% weaker since last week. Open interest is 3.2% weaker than yesterday and 10.3% below its monthly average. The SSI is a contrarian indicator and signals more GBPUSD gains.
[B]Written By Kathy Lien, Chief Currency Strategist for DailyFx.com[/B]