British Pound is an Attractive Buy on Dips

By DailyFx | Updated July 30, 2014 AAA - British Pound is an Attractive Buy on Dips

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GBPUSD – Most retail forex traders remain short the British Pound against the US Dollar, and heavily one-sided sentiment suggests the pair could continue onto fresh highs.

Trade Implications – GBPUSD: The low-volatility environment makes a substantial GBP move relatively unlikely, but until we see a material shift in crowd positions we’ll remain in favor of Sterling strength. Our Senior Technical Strategist eyes $1.7300 as the next level of significant price resistance.

See next currency section:USDJPY - Dollar Looks like a Buy versus the Japanese Yen

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