Variety of merchants net-short has elevated by 23.74% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
GBP/USD |
BULLISH |
28.19% |
71.81% |
-8.28%
-23.16% |
13.96%
23.74% |
6.67%
5.57% |
GBP/USD: Retail dealer knowledge reveals 28.19% of merchants are net-long with the ratio of merchants quick to lengthy at 2.55 to 1. Our knowledge reveals merchants are actually at their least net-long GBP/USD since Aug 04 when GBP/USD traded close to 1.31. The variety of merchants net-long is 8.28% decrease than yesterday and 23.16% decrease from final week, whereas the variety of merchants net-short is 13.96% larger than yesterday and 23.74% larger from final week.
We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-short suggests GBP/USD costs could proceed to rise.
Merchants are additional net-short than yesterday and final week, and the mix of present sentiment and up to date adjustments offers us a stronger GBP/USD-bullish contrarian buying and selling bias.