Number of traders net-short has decreased by 3.04% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
BEARISH | 83.89% | 16.11% | 7.42% 8.64% | -14.34% -3.04% | 3.20% 6.57% |
GBP/USD: Retail trader data shows 83.89% of traders are net-long with the ratio of traders long to short at 5.21 to 1. Our data shows traders are now at their most net-long GBP/USD since Apr 24 when GBP/USD traded near 1.28. The number of traders net-long is 7.42% higher than yesterday and 8.64% higher from last week, while the number of traders net-short is 14.34% lower than yesterday and 3.04% 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.
