British Pound (GBP) Outlook - GBP/USD Setting Sail Into Potential Cross-Winds

Retail trader data show 50.75% of traders are net-long with the ratio of traders long to short at 1.03 to 1.We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBP/USD prices may continue to fall.

Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current GBP/USD price trend may soon reverse higher despite the fact traders remain net-long.

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