[B]GBP[/B][B]/USD Ratio: 1.04
[/B][B]Signal: Bearish[/B]
[B]GBPUSD[/B] – A polar opposite to the EURUSD and its historical change in positioning, the pound-based major would also produce a flip of its own; but it would come with far reduced meaning for contrarian traders. The GBPUSD SSI reading rebounded to 1.04 from -1.37 last Thursday, though this otherwise modest move came with sizable changes in positioning from each side of the pair. The report’s details show long trades jumped 16.7% from yesterday and are 48.6% greater than last week. At the same time, shorts dropped 16.7% from yesterday, but were 11.5% higher than last week’s levels. Despite these considerable moves net open interest was little moved – falling 6.5% from last week while remaining 5.2% above the monthly average. With GBPUSD still in a broad range and positioning holding close to parity, the pair’s SSI readings will likely continue to see flips in the near future.