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Home Technical Analysis

Our data shows traders are now net-long EUR/GBP for the first time since Jul 07, 2020 when EUR/GBP traded near 0.90.

Forex Tips by Forex Tips
July 21, 2020
in Technical Analysis
0
Our data shows traders are now net-long EUR/GBP for the first time since Jul 07, 2020 when EUR/GBP traded near 0.90.
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EUR/GBP Client Positioning

Number of traders net-short has decreased by 25.48% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI


EUR/GBP

BEARISH

50.59%

49.41%

19.08%
Daily

63.92%
Weekly

-8.83%
Daily

-25.48%
Weekly

3.43%
Daily

2.91%
Weekly

EUR/GBP: Retail trader data shows 50.59% of traders are net-long with the ratio of traders long to short at 1.02 to 1. In fact, traders have remained net-long since Jul 07 when EUR/GBP traded near 0.90, price has moved 0.56% higher since then. The number of traders net-long is 19.08% higher than yesterday and 63.92% higher from last week, while the number of traders net-short is 8.83% lower than yesterday and 25.48% 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 Jul 07, 2020 when EUR/GBP traded near 0.90. 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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