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Home Alerts

00 GMT when GBP/USD traded near 1.22.

Forex Tips by Forex Tips
February 9, 2023
in Alerts
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00 GMT when GBP/USD traded near 1.22.
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GBP/USD Client Positioning

Number of traders net-short has increased by 3.65% from last week.

SYMBOL TRADING BIAS NET-LONG% NET-SHORT% CHANGE IN LONGS CHANGE IN SHORTS CHANGE IN OI
GBP/USD BULLISH 49.72% 50.28%

-13.70% Daily

1.36% Weekly

22.58% Daily

3.65% Weekly

1.39% Daily

2.50% Weekly

GBP/USD: Retail trader data shows 49.72% 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 Feb 02 when GBP/USD traded near 1.22, price has moved 0.33% lower since then. The number of traders net-long is 13.70% lower than yesterday and 1.36% higher from last week, while the number of traders net-short is 22.58% higher than yesterday and 3.65% 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 02, 2023 14:00 GMT when GBP/USD traded near 1.22. 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.





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