Number of traders net-short has decreased by 1.10% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| GBP/USD | BULLISH | 34.90% | 65.10% |
-26.14% Daily -15.13% Weekly |
20.46% Daily -1.10% Weekly |
-1.28% Daily -6.50% Weekly |
GBP/USD: Retail trader data shows 34.90% of traders are net-long with the ratio of traders short to long at 1.87 to 1. Our data shows traders are now at their least net-long GBP/USD since Nov 23 when GBP/USD traded near 1.21. The number of traders net-long is 26.14% lower than yesterday and 15.13% lower from last week, while the number of traders net-short is 20.46% higher than yesterday and 1.10% lower 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.
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.
