GBP/USD: Weekly Long Positions Decrease 20% Sparking Bullish Bias
Recent changes in sentiment warn that the current GBPUSD price trend may soon reverse higher despite the fact traders remain net-long.
Recent changes in sentiment warn that the current GBPUSD price trend may soon reverse higher despite the fact traders remain net-long.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Spot Gold-bearish contrarian trading bias.
The combination of current sentiment and recent changes gives us a further mixed US 500 trading bias.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USDJPY-bullish contrarian trading bias.
The Dollar has traded mixed so far today, losing ground to the Australian Dollar, holding steady against the Pound while gaining on the Yen and Canadian Dollar. The overriding theme has been Yen weakness, which has been subject to a safe-haven premium unwind following the U.S. invitation to senior Chinese officials for fresh trade negotiations. […]
Cool U.S. CPI data was the story for the Dollar in N.Y. on Thursday, which resulted in the Greenback initially losing ground across the board. As risk appetite picked up on hopes for progress on global trade, Wall Street rallied, allowing risk-sensitive USD-JPY to advance to just shy of 112.00. Safe-haven Dollar flows reversed however, […]
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