Saturday March 11, 2017 - 14:07:46 GMT
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Amazing Trader & Commitment Of Traders data (3/11/17) Show GBPUSD at Downside Risk Register for the Amazing Trader
Active forextrading is all about stops. The Commitment of Traders Report (COT) is an imperfect, but useful, "sampling" of market positioning. I would like more frequent and precise readings, but we can live with the general data for the purpose of getting an idea if traders are positioned long or short and if they in big or small.
The GBP stands apart from other European currencies because of the U.K. exposure to the uncertainties of Brexit. Some feel the economy will suffer seriously by changing its relationship to the EU. Others say it will thrive. Markets generally are nevous about the furure impact of Brexit and that can be seen the COT and spot GBP data which continue to display weakness. From a trading perspective, we always keep an eye on EURGBP cross as a barometer of flows in and out of the EUR. These flows often directly the EURUSD.
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