EUR/GBP IG Client Sentiment: Our data shows traders are now net-long EUR/GBP for the first time since May 05, 2022 when EUR/GBP traded near 0.85.

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EUR/GBP Client Positioning

Number of traders net-short has decreased by 20.47% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI


EUR/GBP

BEARISH

50.80%

49.20%

13.68%
Daily

19.11%
Weekly

-3.43%
Daily

-20.47%
Weekly

4.57%
Daily

-4.32%
Weekly

EUR/GBP: Retail trader data shows 50.80% of traders are net-long with the ratio of traders long to short at 1.03 to 1. In fact, traders have remained net-long since May 05 when EUR/GBP traded near 0.85, price has moved 0.15% lower since then. The number of traders net-long is 13.68% higher than yesterday and 19.11% higher from last week, while the number of traders net-short is 3.43% lower than yesterday and 20.47% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/GBP prices may continue to fall.

Our data shows traders are now net-long EUR/GBP for the first time since May 05, 2022 when EUR/GBP traded near 0.85. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/GBP-bearish contrarian trading bias.



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