Our data shows traders are now net-long GBP/USD for the first time since Jan 17, 2023 when GBP/USD traded near 1.23.
Number of traders net-short has decreased by 19.21% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| GBP/USD | BEARISH | 50.27% | 49.73% |
5.46% Daily 29.25% Weekly |
-10.87% Daily -19.21% Weekly |
-3.35% Daily -0.44% Weekly |
GBP/USD: Retail trader data shows 50.27% of traders are net-long with the ratio of traders long to short at 1.01 to 1. In fact, traders have remained net-long since Jan 17 when GBP/USD traded near 1.23, price has moved 0.11% lower since then. The number of traders net-long is 5.46% higher than yesterday and 29.25% higher from last week, while the number of traders net-short is 10.87% lower than yesterday and 19.21% 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 Jan 17, 2023 when GBP/USD traded near 1.23. 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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