Our data shows traders are now net-long EUR/GBP for the first time since Jan 30, 2023 when EUR/GBP traded near 0.88.
Number of traders net-short has decreased by 28.55% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| EUR/GBP | BEARISH | 50.68% | 49.32% |
6.51% Daily 84.23% Weekly |
-19.27% Daily -28.55% Weekly |
-7.98% Daily 3.59% Weekly |
EUR/GBP: Retail trader data shows 50.68% of traders are net-long with the ratio of traders long to short at 1.03 to 1. In fact, traders have remained net-long since Jan 30 when EUR/GBP traded near 0.88, price has moved 0.60% higher since then. The number of traders net-long is 6.51% higher than yesterday and 84.23% higher from last week, while the number of traders net-short is 19.27% lower than yesterday and 28.55% 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 Jan 30, 2023 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.
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