Number of traders net-short has decreased by 5.39% from last week.
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
BEARISH |
50.10% |
49.90% |
17.38%
20.54% |
-1.80%
-5.39% |
6.96%
6.03% |
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 May 12 when EUR/GBP traded near 0.88, price has moved 1.52% higher since then. The number of traders net-long is 17.38% higher than yesterday and 20.54% higher from last week, while the number of traders net-short is 1.80% lower than yesterday and 5.39% 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 May 12, 2020 15:00 GMT when EUR/GBP traded near 0.88. 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.