Pound’s Fear Vs. Greed Indicator Shows Bears in Full Control
A customer carries a basket of food items at an Iceland Foods Ltd. supermarket in Christchurch, UK, on Wednesday, June 15, 2022. "Britain's cost-of-living crisis -- on track to big the biggest squeeze since the mid-70s -- will continue to worsen before it starts to ease at some point next year," said Jack Leslie, senior economist at the Resolution Foundation, a research group campaigning against poverty. Photographer: Chris Ratcliffe/Bloomberg
, Bloomberg
Vassilis Karamanis and Libby Cherry, Bloomberg News
(Bloomberg) -- Bears are dominating price action in the pound even more than in the early days of the Covid-19 pandemic. A weekly measure of the fear-greed indicator is at the most bearish level in four years. In simple terms, it’s a technical metric used by traders to get a sense of buying or selling strength, and the persistence of the trend.
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