Number of traders net-short has decreased by 36.33% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
BEARISH | 65.54% | 34.46% | 8.02% 41.47% | -10.48% -36.33% | 0.83% -0.45% |
GBP/USD: Retail trader data shows 65.54% of traders are net-long with the ratio of traders long to short at 1.90 to 1. Our data shows traders are now at their most net-long GBP/USD since Apr 12 when GBP/USD traded near 1.37. The number of traders net-long is 8.02% higher than yesterday and 41.47% higher from last week, while the number of traders net-short is 10.48% lower than yesterday and 36.33% 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.
Read More: Our data shows traders are now at their most net-long GBP/USD since Apr 12