Number of traders net-short has decreased by 19.21% 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 50.27% of traders are net-long with the ratio of traders long to short at 1.01 to 1. In fact, traders have remained net-long since Jan 17 when GBP/USD traded near 1.23, price has moved 0.11% lower since then. The number of traders net-long is 5.46% higher than yesterday and 29.25% higher from last week, while the number of traders net-short is 10.87% lower than yesterday and 19.21% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBP/USD prices may continue to fall.
Our data shows traders are now net-long GBP/USD for the first time since Jan 17, 2023 when GBP/USD traded near 1.23. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bearish contrarian trading bias.