[B]GBP/USD[/B][B] Ratio: -1.09
[/B][B]Signal: Bullish[/B]
[B]Currency[/B] [B]Last Week[/B] [B]Present*[/B] [B]% Long[/B] [B]% Change in Positions Outstanding[/B] [B]Signal[/B] GBP/USD 1.01 [B]-1.09[/B] 48% 20.34% Bullish
[B]GBPUSD – [/B]Looking back to the near split in pound positioning last week, it seems obvious that speculative sentiment was foreshadowing a significant change in from GBPUSD. Ultimately this flip would coincide with the break of a three-month, falling trend channel and subsequent rally that fell just short of 2.00. The SSI ratio now stands at -1.09 – not yet an extreme to confirm expectations of strong follow through. From the details, we can see that long positions are 9.0% lower than yesterday but 14.1% stronger than last week. Shorts are 2.1% greater than Wednesday and 26.4% greater than a week ago. Open interest is only 3.5% above where it stood yesterday and is 15.5% beyond its monthly average.