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Number of traders net-short has decreased by 16.90% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BEARISH |
79.52% |
20.48% |
8.25%
19.18% |
-22.49%
-16.90% |
0.11%
9.45% |
GBP/USD: Retail trader data shows 79.52% of traders are net-long with the ratio of traders long to short at 3.88 to 1. Our data shows traders are now at their most net-long GBP/USD since Dec 20 when GBP/USD traded near 1.32. The number of traders net-long is 8.25% higher than yesterday and 19.18% higher from last week, while the number of traders net-short is 22.49% lower than yesterday and 16.90% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBP/USD prices may continue to fall.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bearish contrarian trading bias.
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