Tuesday, January 15, 2008
Has the GBP bottomed for the time being?
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.