If Retail Traders give their money to the Commercial traders then WE are in for a whoopin!
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GBPUSD – The FXCM SSI shows similar signs for potential reversal in the GBPUSD, with only 51 percent of traders short the currency pair. This represents a 52.1 percent weekly surge in long positions and a similarly pronounced 28.7 percent drop in short positions. Though the headline index remains very marginally bullish for the GBPUSD, the shift in sentiment suggests that we may see further short-term correction before any substantive rallies. Likewise significant, a flip to SSI net-long on the GBPUSD typically precedes sizeable declines.
Written By David Rodriguez, Currency Analyst for dailyFx.com
COTtrader
"Ken"
Read:
GBPUSD – The FXCM SSI shows similar signs for potential reversal in the GBPUSD, with only 51 percent of traders short the currency pair. This represents a 52.1 percent weekly surge in long positions and a similarly pronounced 28.7 percent drop in short positions. Though the headline index remains very marginally bullish for the GBPUSD, the shift in sentiment suggests that we may see further short-term correction before any substantive rallies. Likewise significant, a flip to SSI net-long on the GBPUSD typically precedes sizeable declines.
Written By David Rodriguez, Currency Analyst for dailyFx.com
COTtrader
"Ken"
Decisions Determine Destiny -
