Number of traders net-short has increased by 22.64% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| GBP/USD | BULLISH | 49.62% | 50.38% |
-25.05% Daily -22.39% Weekly |
11.65% Daily 22.64% Weekly |
-10.17% Daily -4.77% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | -25% | 12% | -10% |
| Weekly | -22% | 23% | -5% |
GBP/USD: Retail trader data shows 49.62% of traders are net-long with the ratio of traders short to long at 1.02 to 1. In fact, traders have remained net-short since Aug 17 when GBP/USD traded near 1.27, price has moved 0.10% lower since then. The number of traders net-long is 25.05% lower than yesterday and 22.39% lower from last week, while the number of traders net-short is 11.65% higher than yesterday and 22.64% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests GBP/USD prices may continue to rise.
Our data shows traders are now net-short GBP/USD for the first time since Aug 17, 2023 when GBP/USD traded near 1.27. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bullish contrarian trading bias.
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