Number of traders net-short has increased by 17.63% from last week.SYMBOLTRADING BIASNET-LONG%NET-SHORT%CHANGE IN LONGSCHANGE IN SHORTSCHANGE IN OIGB
Number of traders net-short has increased by 17.63% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| GBP/USD | BULLISH | 48.97% | 51.03% |
-6.31% Daily -4.39% Weekly |
8.71% Daily 17.63% Weekly |
0.79% Daily 5.71% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | -4% | -2% | -3% |
| Weekly | -2% | 14% | 5% |
GBP/USD: Retail trader data shows 48.97% of traders are net-long with the ratio of traders short to long at 1.04 to 1. In fact, traders have remained net-short since Aug 01 when GBP/USD traded near 1.28, price has moved 0.33% lower since then. The number of traders net-long is 6.31% lower than yesterday and 4.39% lower from last week, while the number of traders net-short is 8.71% higher than yesterday and 17.63% 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 01, 2023 when GBP/USD traded near 1.28. 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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