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Number of traders net-short has increased by 16.29% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| GBP/USD | BULLISH | 36.43% | 63.57% |
-21.62% Daily -18.02% Weekly |
11.56% Daily 16.29% Weekly |
-3.35% Daily 0.90% Weekly |
GBP/USD: Retail trader data shows 36.43% of traders are net-long with the ratio of traders short to long at 1.75 to 1. Our data shows traders are now at their least net-long GBP/USD since Jan 14 when GBP/USD traded near 1.37. The number of traders net-long is 21.62% lower than yesterday and 18.02% lower from last week, while the number of traders net-short is 11.56% higher than yesterday and 16.29% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests GBP/USD prices may continue to rise.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bullish contrarian trading bias.
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