Number of traders net-short has increased by 23.02% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
BULLISH | 47.63% | 52.37% | -27.17% -32.83% | 34.12% 23.02% | -4.25% -11.88% |
EUR/GBP: Retail trader data shows 47.63% of traders are net-long with the ratio of traders short to long at 1.10 to 1. In fact, traders have remained net-short since Jun 15 when EUR/GBP traded near 0.86, price has moved 0.93% higher since then. The number of traders net-long is 27.17% lower than yesterday and 32.83% lower from last week, while the number of traders net-short is 34.12% higher than yesterday and 23.02% 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 Jun 15, 2022 when EUR/GBP traded near 0.86. 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.
