Number of traders net-short has decreased by 19.69% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
BEARISH | 50.34% | 49.66% | 7.27% 9.62% | 1.02% -19.69% | 4.07% -7.20% |
GBP/USD: Retail trader data shows 50.34% of traders are net-long with the ratio of traders long to short at 1.01 to 1. In fact, traders have remained net-long since Jan 07 when GBP/USD traded near 1.36, price has moved 0.99% lower since then. The number of traders net-long is 7.27% higher than yesterday and 9.62% higher from last week, while the number of traders net-short is 1.02% higher than yesterday and 19.69% 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.
Our data shows traders are now net-long GBP/USD for the first time since Jan 07, 2022 when GBP/USD traded near 1.36. 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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