[B]GBP[/B][B]/USD Ratio: 1.31
[/B][B]Signal: Bearish[/B]
[B]Currency[/B] [B]Last Week[/B] [B]Present*[/B] [B]% Long[/B] [B]% Change in Positions Outstanding[/B] [B]Signal[/B] GBPUSD -1.27 [B]1.31[/B] 57% 14.48% Bearish
[B]GBPUSD – [/B]The steady trend of the GBPUSD SSI flipping from one week to the next was maintained through this Thursday. The positioning gauge reported a 1.31 reading today as 57% of traders took on long positions. To keep a tally on the volatility of this gauge, the sentiment reading stood at -1.27 last week and 1.04 the week before that. This back and forth between net positioning has from the underlying pair’s congestive price action. However, with the GBPUSD breaking below 1.96 to a new two-and-a-half month low yesterday, the market may be finding direction which would lead to stronger readings. The details show that since yesterday long trades have fallen 8.9% but surged 47.2% from last week. Long trades have grown 4.1% since Wednesday and eased 11.4% from last Thursday. Overall, open interest is 7.4% greater over the week and 9.7% above the monthly average.