Number of traders net-short has increased by 84.09% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| EUR/GBP | BULLISH | 34.41% | 65.59% |
-13.27% Daily -59.33% Weekly |
16.97% Daily 84.09% Weekly |
4.44% Daily -16.84% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | -9% | 17% | 6% |
| Weekly | -57% | 80% | -16% |
EUR/GBP: Retail trader data shows 34.41% of traders are net-long with the ratio of traders short to long at 1.91 to 1. Our data shows traders are now at their least net-long EUR/GBP since Nov 11 when EUR/GBP traded near 0.87. The number of traders net-long is 13.27% lower than yesterday and 59.33% lower from last week, while the number of traders net-short is 16.97% higher than yesterday and 84.09% 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.
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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