Number of traders net-short has decreased by 28.55% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
EUR/GBP: Retail trader data shows 50.68% of traders are net-long with the ratio of traders long to short at 1.03 to 1. In fact, traders have remained net-long since Jan 30 when EUR/GBP traded near 0.88, price has moved 0.60% higher since then. The number of traders net-long is 6.51% higher than yesterday and 84.23% higher from last week, while the number of traders net-short is 19.27% lower than yesterday and 28.55% 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 Jan 30, 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.