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Number of traders net-short has increased by 3.96% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| EUR/GBP | BULLISH | 49.84% | 50.16% |
-6.01% Daily -19.33% Weekly |
-2.48% Daily 3.96% Weekly |
-4.27% Daily -9.12% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 0% | -3% | -2% |
| Weekly | -14% | 2% | -7% |
EUR/GBP: Retail trader data shows 49.84% of traders are net-long with the ratio of traders short to long at 1.01 to 1. In fact, traders have remained net-short since May 04 when EUR/GBP traded near 0.88, price has moved 0.88% lower since then. The number of traders net-long is 6.01% lower than yesterday and 19.33% lower from last week, while the number of traders net-short is 2.48% lower than yesterday and 3.96% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EUR/GBP prices may continue to rise.
Our data shows traders are now net-short EUR/GBP for the first time since May 04, 2023 when EUR/GBP traded near 0.88. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/GBP-bullish contrarian trading bias.
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