Variety of merchants net-short has decreased by 28.84% from final week. SYMBOL
Variety of merchants net-short has decreased by 28.84% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
GBP/USD |
BEARISH |
50.23% |
49.77% |
2.85%
32.43% |
-13.96%
-28.84% |
-6.26%
-7.30% |
GBP/USD: Retail dealer information reveals 50.23% of merchants are net-long with the ratio of merchants lengthy to quick at 1.01 to 1. In reality, merchants have remained net-long since Jul 20 when GBP/USD traded close to 1.27, worth has moved 1.18% increased since then. The variety of merchants net-long is 2.85% increased than yesterday and 32.43% increased from final week, whereas the variety of merchants net-short is 13.96% decrease than yesterday and 28.84% decrease from final week.
We usually take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests GBP/USD costs might proceed to fall.
Our information reveals merchants at the moment are net-long GBP/USD for the primary time since Jul 20, 2020 when GBP/USD traded close to 1.27. 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.