Our data shows traders are now net-long EUR/GBP for the first time since Oct 18, 2023 when EUR/GBP traded near 0.87.
Number of traders net-short has decreased by 15.01% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| EUR/GBP | BEARISH | 50.08% | 49.92% |
20.00% Daily 8.53% Weekly |
-20.35% Daily -15.01% Weekly |
-4.22% Daily -4.65% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 20% | -20% | -4% |
| Weekly | 9% | -15% | -5% |
EUR/GBP: Retail trader data shows 50.08% 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 Oct 18 when EUR/GBP traded near 0.87, price has moved 0.15% higher since then. The number of traders net-long is 20.00% higher than yesterday and 8.53% higher from last week, while the number of traders net-short is 20.35% lower than yesterday and 15.01% 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 Oct 18, 2023 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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