Tuesday, Jan 15, 2008
Has the GBP bottomed for the time being?
YahooBiz: British Pound Most Bullish Since November 2005
I am not a FXtrader so I can't verify these charts but this analysis says a bottom is forming for the falling pound. This is based on the COT Index (Commitment of Traders). "The COT index allows us to view the net position of each reporting class in relation to its own history, to ascertain if a particular group is aggressively positioned with a directional bias." Apparently this is indicating a turn for GBP sentiment.
Posted by happyrenterz @ 08:54 PM (692 views) Add Comment
5 Comments
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1. techieman said...
COT is as follows - if Commercials are net long be long especially if Speculators are net short. The more extreme the more valid. Like everything its not always right but its pretty good at the extremes.
2. japanese uncle said...
Bullish may possible be a typo for bullsh-t.
3. whiteknight said...
very good.
4. sovietuk said...
nice one JU :-) :-) :-)
5. Maihem said...
This could be as little as mass liquidation of LSE traded shares - the FTSE has fallen substantially.