Variety of merchants net-short has elevated by 1.73% from final week. SYMBOL
Variety of merchants net-short has elevated by 1.73% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
GBP/USD |
BEARISH |
50.42% |
49.58% |
10.06%
12.41% |
-21.28%
1.73% |
-8.08%
6.85% |
GBP/USD: Retail dealer knowledge reveals 50.42% of merchants are net-long with the ratio of merchants lengthy to brief at 1.02 to 1. In reality, merchants have remained net-long since Oct 02 when GBP/USD traded close to 1.29, value has moved 0.05% larger since then. The variety of merchants net-long is 10.06% larger than yesterday and 12.41% larger from final week, whereas the variety of merchants net-short is 21.28% decrease than yesterday and 1.73% larger from final week.
We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests GBP/USD costs could proceed to fall.
Our knowledge reveals merchants at the moment are net-long GBP/USD for the primary time since Oct 02, 2020 when GBP/USD traded close to 1.29. Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date modifications provides us a stronger GBP/USD-bearish contrarian buying and selling bias.