(Bloomberg) -- Bets that the pound will decline versus the dollar may become “relatively dangerous” in the event the British currency closes above $1.6746, MIG Investments SA said, citing trading patterns. “Should we close above $1.6665 and the September high, then shorts become relatively dangerous and would argue for a potential extension” to $1.7723, Paul Day, chief market analyst at MIG in Neuchatel, Switzerland, wrote in a research note today. A short position is a bet that the price of a currency or security will decline.
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