Variety of merchants net-short has decreased by 28.53% from final week.
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
GBP/USD |
BEARISH |
52.51% |
47.49% |
19.77%
30.11% |
-11.24%
-28.53% |
2.73%
-6.37% |
GBP/USD: Retail dealer knowledge exhibits 52.51% of merchants are net-long with the ratio of merchants lengthy to quick at 1.11 to 1. Actually, merchants have remained net-long since Jun 03 when GBP/USD traded close to 1.26, value has moved 0.80% decrease since then. The variety of merchants net-long is 19.77% greater than yesterday and 30.11% greater from final week, whereas the variety of merchants net-short is 11.24% decrease than yesterday and 28.53% decrease from final week.
We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests GBP/USD costs might proceed to fall.
Our knowledge exhibits merchants at the moment are net-long GBP/USD for the primary time since Jun 03, 2020 when GBP/USD traded close to 1.26. 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.