Home ForexArticles Our data shows traders are now net-short GBP/USD for the first time since Jun 16, 2021 when GBP/USD traded near 1.40.

Our data shows traders are now net-short GBP/USD for the first time since Jun 16, 2021 when GBP/USD traded near 1.40.

by admin


Number of traders net-short has increased by 67.26% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI


GBP/USD

BULLISH

48.21%

51.79%

-12.24%
Daily

-37.87%
Weekly

6.60%
Daily

67.26%
Weekly

-3.40%
Daily

-7.88%
Weekly

GBP/USD: Retail trader data shows 48.21% of traders are net-long with the ratio of traders short to long at 1.07 to 1. In fact, traders have remained net-short since Jun 16 when GBP/USD traded near 1.40, price has moved 0.77% lower since then. The number of traders net-long is 12.24% lower than yesterday and 37.87% lower from last week, while the number of traders net-short is 6.60% higher than yesterday and 67.26% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests GBP/USD prices may continue to rise.

Our data shows traders are now net-short GBP/USD for the first time since Jun 16, 2021 when GBP/USD traded near 1.40. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bullish contrarian trading bias.



Source link

Spread the love

related posts