Number of traders net-short has decreased by 9.76% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| GBP/USD | BEARISH | 50.02% | 49.98% |
12.59% Daily -3.85% Weekly |
-18.73% Daily -9.76% Weekly |
-5.59% Daily -6.90% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 13% | -19% | -6% |
| Weekly | -4% | -10% | -7% |
GBP/USD: Retail trader data shows 50.02% of traders are net-long with the ratio of traders long to short at 1.00 to 1. In fact, traders have remained net-long since Dec 22 when GBP/USD traded near 1.27, price has moved 0.34% higher since then. The number of traders net-long is 12.59% higher than yesterday and 3.85% lower from last week, while the number of traders net-short is 18.73% lower than yesterday and 9.76% 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.
Our data shows traders are now net-long GBP/USD for the first time since Dec 22, 2023 09:00 GMT when GBP/USD traded near 1.27. 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.
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