Our data shows traders are now net-long EUR/GBP for the first time since Apr 13, 2023 when EUR/GBP traded near 0.88.
Number of traders net-short has decreased by 28.27% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| EUR/GBP | BEARISH | 50.00% | 50.00% |
9.64% Daily 37.67% Weekly |
-22.47% Daily -28.27% Weekly |
-9.17% Daily -5.68% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 10% | -22% | -9% |
| Weekly | 38% | -26% | -3% |
EUR/GBP: Retail trader data shows 50.00% 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 Apr 13 when EUR/GBP traded near 0.88, price has moved 0.56% lower since then. The number of traders net-long is 9.64% higher than yesterday and 37.67% higher from last week, while the number of traders net-short is 22.47% lower than yesterday and 28.27% 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 Apr 13, 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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