The British Pound gained 0.77 percent against the US Dollar and 1.96 percent against the Japanese Yen on Wednesday, respectively. These reflected the best days for GBP/USD and GBP/JPY since December 13th and October 13th, respectively. Looking at IG Client Sentiment (IGCS), retail traders responded by boosting short exposure. IGCS typically functions as a contrarian indicator. Is this a sign that further gains might be in store for Sterling ahead?
