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: 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.
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