British Pound and Canadian Dollar Forecast to Rally Against US Dollar

EURUSD – Euro Forecast Unclear as Sentiment Mixed
GBPUSD – British Pound Predicted to Strengthen
USDJPY – Japanese Yen Forecast to Rally Further
USDCHF – Swiss Franc Expected to Strengthen
USDCAD – Canadian Dollar Outlook Calls for Gains
GBPJPY – British Pound Forecast Bullish versus Japanese Yen



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Forex trading crowds continue to bet aggressively against British Pound strength, giving us contrarian signal to go long the GBP against the US Dollar and Japanese Yen. The same is true for the Canadian Dollar as traders long the USDCAD (short CAD) outnumber shorts by a massive 4.27 to 1. Such one-sided sentiment typically coincides with a continuation in trends, as crowds most often fade strong currency moves. Sentiment on the Euro/US Dollar currency pair is comparatively neutral, and incredibly choppy price action gives us little indication of what to expect for the heavily traded EURUSD.

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