British Pound is an Attractive Buy on Dips

By DailyFx | Updated July 30, 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

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    GBP/USD: trades near session lows

  2. Forex News

    GBP/USD sees scope to test 1.4690 – FXStreet

  3. Forex News

    GBP/USD halts its recovery, retraces to 1.4840

  4. Forex News

    EUR/USD muted post-EMU data

  5. Forex News

    Election uncertainty affecting the Pound – Investec

Trading Center