The latest BoE decision will be more about what they say than what they do, and this leaves Sterling-pairs vulnerable.
IG Retail data shows 60.77% of traders are net-long with the ratio of traders long to short at 1.55 to 1.The number of traders net-long is 8.88% higher than yesterday and 24.63% higher than last week, while the number of traders net-short is 1.50% lower than yesterday and 5.46% lower than last week.and the fact traders are net-long suggests GBP/USD prices may continue to fall./GBP is currently testing the 200-day sma and a break above leaves 0.8620 as the next target.
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