Number of traders net-short has increased by 23.80% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
of clients are net long.
of clients are net short.
GBP/USD: Retail trader data shows 47.59% of traders are net-long with the ratio of traders short to long at 1.10 to 1. In fact, traders have remained net-short since Feb 28 when GBP/USD traded near 1.20, price has moved 0.26% higher since then. The number of traders net-long is 31.73% lower than yesterday and 29.60% lower from last week, while the number of traders net-short is 18.79% higher than yesterday and 23.80% 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 Feb 28, 2023 18:00 GMT when GBP/USD traded near 1.20. 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.