Home Forex 00 GMT when EUR/GBP traded near 0.85.

00 GMT when EUR/GBP traded near 0.85.

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Number of traders net-short has decreased by 5.22% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI


EUR/GBP

BEARISH

50.00%

50.00%

10.43%
Daily

19.06%
Weekly

2.97%
Daily

-5.22%
Weekly

6.57%
Daily

5.54%
Weekly

EUR/GBP: Retail trader data shows 50.00% of traders are net-long with the ratio of traders long to short at 1.00 to 1. In fact, traders have remained net-long since Apr 26 when EUR/GBP traded near 0.85, price has moved 0.23% lower since then. The number of traders net-long is 10.43% higher than yesterday and 19.06% higher from last week, while the number of traders net-short is 2.97% higher than yesterday and 5.22% 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 Apr 26, 2022 17:00 GMT 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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