[B]GBP/USD[/B][B] Ratio: -1.08
[/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 -1.09 [B]-1.08[/B] 48% 0.86% Bullish
[B]GBPUSD – [/B]The British pound made a significant break above resistance Thursday morning and the Speculative Sentiment Index was on the right side of the move. Net positioning in GBPUSD is still negative at -1.08, slightly less extreme than the -1.09 reading from last week and -1.11 from Wednesday. While this is a modest print in comparison to some of the extremes in some of the other pairs, the deeper liquidity of the GBPUSD improves the sensitivity of the positioning guide to the underlying. From the details, open interest is 5.2% above yesterday’s level and 11.1% above its monthly average. Despite the break above 2.00, longs are only 6.9% higher than yesterday and 11.9% lower than last week. Short positions are up 3.6% from yesterday and 16.6% from last Thursday.