Number of traders net-short has decreased by 0.68% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BULLISH |
49.19% |
50.81% |
-22.50%
-16.76% |
0.00%
-0.68% |
-12.50%
-9.30% |
EUR/GBP: Retail trader data shows 49.19% of traders are net-long with the ratio of traders short to long at 1.03 to 1. In fact, traders have remained net-short since Nov 20 when EUR/GBP traded near 0.89, price has moved 0.74% higher since then. The number of traders net-long is 22.50% lower than yesterday and 16.76% lower from last week, while the number of traders net-short is unchanged than yesterday and 0.68% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EUR/GBP prices may continue to rise.
Our data shows traders are now net-short EUR/GBP for the first time since Nov 20, 2020 15:00 GMT when EUR/GBP traded near 0.89. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/GBP-bullish contrarian trading bias.
