Variety of merchants net-short has elevated by 13.59% from final week. SYMBOL
Variety of merchants net-short has elevated by 13.59% from final week.
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
GBP/USD |
BULLISH |
49.66% |
50.34% |
-13.24%
-5.75% |
8.05%
13.59% |
-3.69%
3.08% |
GBP/USD: Retail dealer knowledge reveals 49.66% of merchants are net-long with the ratio of merchants brief to lengthy at 1.01 to 1. In actual fact, merchants have remained net-short since Jun 18 when GBP/USD traded close to 1.24, value has moved 0.43% greater since then. The variety of merchants net-long is 13.24% decrease than yesterday and 5.75% decrease from final week, whereas the variety of merchants net-short is 8.05% greater than yesterday and 13.59% greater from final week.
We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-short suggests GBP/USD costs could proceed to rise.
Our knowledge reveals merchants are actually net-short GBP/USD for the primary time since Jun 18, 2020 when GBP/USD traded close to 1.24. Merchants are additional net-short than yesterday and final week, and the mixture of present sentiment and up to date adjustments offers us a stronger GBP/USD-bullish contrarian buying and selling bias.