GBPUSD - An important week-over-week shift in British Pound retail positioning warns that the GBPUSD uptrend is at risk. Last week there were more than 2 traders short GBPUSD for every one long, and indeed crowds have remained net-short GBP as the pair crossed above $1.57 in early August. Yet short interest has fallen nearly 22 percent since last week, while longs have surged 43 percent. If crowds indeed turn net-long GBPUSD, we would take that as clear contrarian signal for further losses. Important technical price levels to watch are at $1.59 and $1.6050. --- Written by David Rodriguez, Quantitative Strategist for DailyFX.com To receive the Speculative Sentiment Index and other reports from this author via e-mail, send a message with subject line “Distribution List� to drodriguez@dailyfx.com; New to FX markets? Learn more in our video trading guide. Contact David via Twitter at http://www.twitter.com/DRodriguezFX Facebook at http://www.Facebook.com/DRodriguezFX Meet the DailyFX team in Las Vegas at the annual FXCM Traders Expo, November 2-4, 2012 at the Rio All Suite Hotel & Casino. For additional information regarding the schedule, workshops and accommodations, visit the FXCM Trading Expo website.

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