Number of traders net-short has decreased by 12.20% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BEARISH |
50.10% |
49.90% |
30.87%
49.13% |
-2.67%
-12.20% |
11.67%
10.58% |
EUR/GBP: Retail trader data shows 50.10% of traders are net-long with the ratio of traders long to short at 1.00 to 1. In fact, traders have remained net-long since Jun 11 when EUR/GBP traded near 0.90, price has moved 0.42% higher since then. The number of traders net-long is 30.87% higher than yesterday and 49.13% higher from last week, while the number of traders net-short is 2.67% lower than yesterday and 12.20% 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 Jun 11, 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.
