Our data shows traders are now net-long GBP/USD for the first time since Mar 17, 2023 when GBP/USD traded near 1.22.
Number of traders net-short has decreased by 9.47% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| GBP/USD | BEARISH | 50.48% | 49.52% |
11.01% Daily 13.40% Weekly |
3.41% Daily -9.47% Weekly |
7.11% Daily 0.79% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 5% | 6% | 6% |
| Weekly | 6% | -10% | -3% |
GBP/USD: Retail trader data shows 50.48% of traders are net-long with the ratio of traders long to short at 1.02 to 1. In fact, traders have remained net-long since Mar 17 when GBP/USD traded near 1.22, price has moved 1.81% higher since then. The number of traders net-long is 11.01% higher than yesterday and 13.40% higher from last week, while the number of traders net-short is 3.41% higher than yesterday and 9.47% 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 Mar 17, 2023 when GBP/USD traded near 1.22. 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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