Number of traders net-short has increased by 6.04% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| EUR/GBP | BULLISH | 49.76% | 50.24% |
-0.95% Daily -12.57% Weekly |
9.34% Daily 6.04% Weekly |
3.97% Daily -4.12% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 3% | 11% | 7% |
| Weekly | -8% | 24% | 6% |
EUR/GBP: Retail trader data shows 49.76% of traders are net-long with the ratio of traders short to long at 1.01 to 1. In fact, traders have remained net-short since Apr 03 when EUR/GBP traded near 0.88, price has moved 0.30% higher since then. The number of traders net-long is 0.95% lower than yesterday and 12.57% lower from last week, while the number of traders net-short is 9.34% higher than yesterday and 6.04% 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 Apr 03, 2023 12:00 GMT when EUR/GBP traded near 0.88. 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.
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