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Number of traders net-short has increased by 31.60% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BULLISH |
49.92% |
50.08% |
-12.30%
-8.89% |
17.92%
31.60% |
0.61%
7.70% |
EUR/GBP: Retail trader data shows 49.92% of traders are net-long with the ratio of traders short to long at 1.00 to 1. In fact, traders have remained net-short since May 16 when EUR/GBP traded near 0.85, price has moved 1.33% higher since then. The number of traders net-long is 12.30% lower than yesterday and 8.89% lower from last week, while the number of traders net-short is 17.92% higher than yesterday and 31.60% 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 16, 2022 12:00 GMT when EUR/GBP traded near 0.85. 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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