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.
