Number of traders net-short has decreased by 7.82% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| EUR/GBP | BEARISH | 50.15% | 49.85% |
1.22% Daily 9.21% Weekly |
-13.39% Daily -7.82% Weekly |
-6.63% Daily 0.00% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 1% | -15% | -7% |
| Weekly | 9% | -8% | -1% |
EUR/GBP: Retail trader data shows 50.15% of traders are net-long with the ratio of traders long to short at 1.01 to 1. In fact, traders have remained net-long since Sep 21 when EUR/GBP traded near 0.87, price has moved 0.20% lower since then. The number of traders net-long is 1.22% higher than yesterday and 9.21% higher from last week, while the number of traders net-short is 13.39% lower than yesterday and 7.82% 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 Sep 21, 2023 10:00 GMT when EUR/GBP traded near 0.87. 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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