Number of traders net-short has increased by 9.26% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
GBP/USD: Retail trader data shows 49.80% of traders are net-long with the ratio of traders short to long at 1.01 to 1. In fact, traders have remained net-short since Oct 17 when GBP/USD traded near 1.14, price has moved 0.98% higher since then. The number of traders net-long is 20.88% lower than yesterday and 7.12% lower from last week, while the number of traders net-short is 25.29% higher than yesterday and 9.26% 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 Oct 17, 2022 19:00 GMT when GBP/USD traded near 1.14. 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.