Number of traders net-short has increased by 45.75% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
BULLISH | 36.83% | 63.17% | -8.77% -22.85% | 12.06% 45.75% | 3.37% 9.80% |
EUR/GBP: Retail trader data shows 36.83% of traders are net-long with the ratio of traders short to long at 1.72 to 1. Our data shows traders are now at their least net-long EUR/GBP since Jun 15 when EUR/GBP traded near 0.86. The number of traders net-long is 8.77% lower than yesterday and 22.85% lower from last week, while the number of traders net-short is 12.06% higher than yesterday and 45.75% 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.
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.
