Number of traders net-short has decreased by 19.69% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
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.