Number of traders net-short has increased by 13.59% from last week.
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
BULLISH |
49.66% |
50.34% |
-13.24%
-5.75% |
8.05%
13.59% |
-3.69%
3.08% |
GBP/USD: Retail trader data shows 49.66% of traders are net-long with the ratio of traders short to long at 1.01 to 1. In fact, traders have remained net-short since Jun 18 when GBP/USD traded near 1.24, price has moved 0.43% higher since then. The number of traders net-long is 13.24% lower than yesterday and 5.75% lower from last week, while the number of traders net-short is 8.05% higher than yesterday and 13.59% 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 Jun 18, 2020 when GBP/USD traded near 1.24. 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.