Our data shows traders are now net-long EUR/GBP for the first time since Sep 29, 2023 when EUR/GBP traded near 0.87.
Number of traders net-short has decreased by 10.45% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| EUR/GBP | BEARISH | 51.31% | 48.69% |
12.46% Daily -0.89% Weekly |
-1.86% Daily -10.45% Weekly |
5.00% Daily -5.79% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 13% | -6% | 3% |
| Weekly | 2% | -13% | -6% |
EUR/GBP: Retail trader data shows 51.31% of traders are net-long with the ratio of traders long to short at 1.05 to 1. In fact, traders have remained net-long since Sep 29 when EUR/GBP traded near 0.87, price has moved 0.25% lower since then. The number of traders net-long is 12.46% higher than yesterday and 0.89% lower from last week, while the number of traders net-short is 1.86% lower than yesterday and 10.45% 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 Sep 29, 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.
Comments are closed.