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Number of traders net-short has increased by 32.00% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| EUR/GBP | BULLISH | 49.75% | 50.25% |
-34.08% Daily -27.05% Weekly |
52.31% Daily 32.00% Weekly |
-7.80% Daily -5.89% Weekly |
EUR/GBP: Retail trader data shows 49.75% 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 Nov 17 when EUR/GBP traded near 0.87, price has moved 0.27% lower since then. The number of traders net-long is 34.08% lower than yesterday and 27.05% lower from last week, while the number of traders net-short is 52.31% higher than yesterday and 32.00% 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 Nov 17, 2022 when EUR/GBP traded near 0.87. 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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