Variety of merchants net-short has decreased by 23.13% from final week. SYMBOL
Variety of merchants net-short has decreased by 23.13% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
GBP/USD |
BEARISH |
50.89% |
49.11% |
5.03%
23.58% |
-4.73%
-23.13% |
0.00%
-4.82% |
GBP/USD: Retail dealer knowledge reveals 50.89% of merchants are net-long with the ratio of merchants lengthy to quick at 1.04 to 1. Actually, merchants have remained net-long since Dec 30 when GBP/USD traded close to 1.36, value has moved 0.54% decrease since then. The variety of merchants net-long is 5.03% greater than yesterday and 23.58% greater from final week, whereas the variety of merchants net-short is 4.73% decrease than yesterday and 23.13% decrease from final week.
We sometimes take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests GBP/USD costs might proceed to fall.
Our knowledge reveals merchants are actually net-long GBP/USD for the primary time since Dec 30, 2020 09:00 GMT when GBP/USD traded close to 1.36. Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date adjustments provides us a stronger GBP/USD-bearish contrarian buying and selling bias.