Variety of merchants net-short has decreased by 35.50% from final week. SYMBOL
Variety of merchants net-short has decreased by 35.50% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
GBP/USD |
BEARISH |
50.82% |
49.18% |
25.58%
30.82% |
15.41%
-35.50% |
20.37%
-13.11% |
GBP/USD: Retail dealer knowledge reveals 50.82% of merchants are net-long with the ratio of merchants lengthy to brief at 1.03 to 1. In actual fact, merchants have remained net-long since Feb 04 when GBP/USD traded close to 1.37, worth has moved 2.20% greater since then. The variety of merchants net-long is 25.58% greater than yesterday and 30.82% greater from final week, whereas the variety of merchants net-short is 15.41% greater than yesterday and 35.50% decrease from final week.
We sometimes 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 reveals merchants at the moment are net-long GBP/USD for the primary time since Feb 04, 2021 when GBP/USD traded close to 1.37. 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.
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