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Our data shows traders are now net-short GBP/USD for the first time since Oct 27, 2022 when GBP/USD traded near 1.16.

Forex Tips by Forex Tips
November 10, 2022
in Alerts
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Our data shows traders are now net-short GBP/USD for the first time since Oct 27, 2022 when GBP/USD traded near 1.16.
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GBP/USD Client Positioning

Number of traders net-short has increased by 41.96% from last week.

SYMBOL TRADING BIAS NET-LONG% NET-SHORT% CHANGE IN LONGS CHANGE IN SHORTS CHANGE IN OI
GBP/USD BULLISH 48.96% 51.04%

-21.27% Daily

-39.17% Weekly

14.88% Daily

41.96% Weekly

-6.20% Daily

-14.12% Weekly

GBP/USD: Retail trader data shows 48.96% of traders are net-long with the ratio of traders short to long at 1.04 to 1. In fact, traders have remained net-short since Oct 27 when GBP/USD traded near 1.16, price has moved 0.78% higher since then. The number of traders net-long is 21.27% lower than yesterday and 39.17% lower from last week, while the number of traders net-short is 14.88% higher than yesterday and 41.96% 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 Oct 27, 2022 when GBP/USD traded near 1.16. 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.





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