Number of traders net-short has decreased by 26.24% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
GBP/USD |
BEARISH |
78.81% |
21.19% |
6.14%
4.10% |
1.75%
-26.24% |
5.18%
-4.24% |
GBP/USD: Retail trader data shows 78.81% of traders are net-long with the ratio of traders long to short at 3.72 to 1. Our data shows traders are now at their most net-long GBP/USD since Sep 30 when GBP/USD traded near 1.35. The number of traders net-long is 6.14% higher than yesterday and 4.10% higher from last week, while the number of traders net-short is 1.75% higher than yesterday and 26.24% 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.
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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