British Pound is an Attractive Buy on Dips

By DailyFx | July 16, 2014 AAA

DailyFX.com - British Pound is an Attractive Buy on Dips

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

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

comments powered by Disqus
Related Forex Analysis
  1. USD/JPY desperate to move away from 107.00
    Forex News

    USD/JPY desperate to move away from 107.00

  2. US Dollar Technical Analysis: Readying to Resume Uptrend?
    Forex News

    US Dollar Technical Analysis: Readying to Resume Uptrend?

  3. GBP/USD goes nowhere ahead of retail sales report
    Forex News

    GBP/USD goes nowhere ahead of retail sales report

  4. EUR/JPY Technical Analysis: Former Resistance Now Support
    Forex News

    EUR/JPY Technical Analysis: Former Resistance Now Support

  5. GBP/JPY Technical Analysis: Pound Sold vs. Japanese Yen
    Forex News

    GBP/JPY Technical Analysis: Pound Sold vs. Japanese Yen

Trading Center