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: 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.