Variety of merchants net-short has decreased by 17.04% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
GBP/USD |
BEARISH |
50.93% |
49.07% |
28.51%
35.76% |
-0.36%
-17.04% |
12.51%
3.45% |
GBP/USD: Retail dealer information exhibits 50.93% of merchants are net-long with the ratio of merchants lengthy to brief at 1.04 to 1. In reality, merchants have remained net-long since Oct 16 when GBP/USD traded close to 1.29, value has moved 0.80% increased since then. The variety of merchants net-long is 28.51% increased than yesterday and 35.76% increased from final week, whereas the variety of merchants net-short is 0.36% decrease than yesterday and 17.04% decrease from final week.
We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests GBP/USD costs could proceed to fall.
Our information exhibits merchants are actually net-long GBP/USD for the primary time since Oct 16, 2020 when GBP/USD traded close to 1.29. Merchants are additional net-long than yesterday and final week, and the mixture of present sentiment and up to date adjustments offers us a stronger GBP/USD-bearish contrarian buying and selling bias.