Our data shows traders are now net-long EUR/GBP for the first time since Dec 15, 2022 when EUR/GBP traded near 0.87.
Number of traders net-short has decreased by 27.79% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| EUR/GBP | BEARISH | 50.07% | 49.93% |
26.15% Daily 42.23% Weekly |
-30.33% Daily -27.79% Weekly |
-10.20% Daily -4.17% Weekly |
EUR/GBP: Retail trader data shows 50.07% 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 Dec 15 when EUR/GBP traded near 0.87, price has moved 0.55% higher since then. The number of traders net-long is 26.15% higher than yesterday and 42.23% higher from last week, while the number of traders net-short is 30.33% lower than yesterday and 27.79% 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 Dec 15, 2022 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.
Comments are closed.