Our data shows traders are now net-long GBP/USD for the first time since Apr 25, 2023 when GBP/USD traded near 1.24.
Number of traders net-short has decreased by 26.09% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| GBP/USD | BEARISH | 50.87% | 49.13% |
36.85% Daily 53.50% Weekly |
-23.24% Daily -26.09% Weekly |
-1.16% Daily 0.39% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 37% | -23% | -1% |
| Weekly | 53% | -26% | 0% |
GBP/USD: Retail trader data shows 50.87% of traders are net-long with the ratio of traders long to short at 1.04 to 1. In fact, traders have remained net-long since Apr 25 when GBP/USD traded near 1.24, price has moved 0.78% higher since then. The number of traders net-long is 36.85% higher than yesterday and 53.50% higher from last week, while the number of traders net-short is 23.24% lower than yesterday and 26.09% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBP/USD prices may continue to fall.
Our data shows traders are now net-long GBP/USD for the first time since Apr 25, 2023 when GBP/USD traded near 1.24. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bearish contrarian trading bias.
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