Variety of merchants net-short has elevated by 76.60% from final week. SYMBOL
Variety of merchants net-short has elevated by 76.60% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
GBP/USD |
BULLISH |
36.47% |
63.53% |
-20.49%
-40.00% |
39.55%
76.60% |
9.42%
3.36% |
GBP/USD: Retail dealer knowledge reveals 36.47% of merchants are net-long with the ratio of merchants brief to lengthy at 1.74 to 1. Our knowledge reveals merchants are actually at their least net-long GBP/USD since Might 01 when GBP/USD traded close to 1.25. The variety of merchants net-long is 20.49% decrease than yesterday and 40.00% decrease from final week, whereas the variety of merchants net-short is 39.55% greater than yesterday and 76.60% greater from final week.
We sometimes take a contrarian view to crowd sentiment, and the actual 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 mixture of present sentiment and up to date adjustments provides us a stronger GBP/USD-bullish contrarian buying and selling bias.