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Home Technical Analysis

Our data shows traders are now net-long EUR/GBP for the first time since Apr 13, 2023 when EUR/GBP traded near 0.88.

Forex Tips by Forex Tips
April 28, 2023
in Technical Analysis
0
Our data shows traders are now net-long EUR/GBP for the first time since Apr 13, 2023 when EUR/GBP traded near 0.88.
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EUR/GBP Client Positioning

Number of traders net-short has decreased by 28.27% from last week.

SYMBOL TRADING BIAS NET-LONG% NET-SHORT% CHANGE IN LONGS CHANGE IN SHORTS CHANGE IN OI
EUR/GBP BEARISH 50.00% 50.00%

9.64% Daily

37.67% Weekly

-22.47% Daily

-28.27% Weekly

-9.17% Daily

-5.68% Weekly




of clients are net long.




of clients are net short.

Change in Longs Shorts OI
Daily 10% -22% -9%
Weekly 38% -26% -3%

EUR/GBP: Retail trader data shows 50.00% of traders are net-long with the ratio of traders long to short at 1.00 to 1. In fact, traders have remained net-long since Apr 13 when EUR/GBP traded near 0.88, price has moved 0.56% lower since then. The number of traders net-long is 9.64% higher than yesterday and 37.67% higher from last week, while the number of traders net-short is 22.47% lower than yesterday and 28.27% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/GBP prices may continue to fall.

Our data shows traders are now net-long EUR/GBP for the first time since Apr 13, 2023 when EUR/GBP traded near 0.88. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/GBP-bearish contrarian trading bias.





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