David Rodriguez of DailyFX.com demonstrates how a remarkable shift in retail FX trader sentiment helped confirm that this currency set a lasting low through last week and how a continued move in both price and sentiment points to further gains.
GBP/USD—A remarkable shift in retail FX trader sentiment helped confirm that the British pound set a lasting low through last week and a continued move in both price and sentiment points to further GBP/USD gains.
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Current data shows there are 1.2 open long positions in the GBP/USD for every 1 short and this represents a substantial change from the 3:1 seen just over a week ago. To read the entire article, watch a video about how we use the SSI in trading, and download the free indicator, click here…
By David Rodriguez, Quantitative Strategist, DailyFX.com
