Our data shows traders are now net-long GBP/USD for the first time since Nov 24, 2023 when GBP/USD traded near 1.26.
Number of traders net-short has decreased by 18.14% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| GBP/USD | BEARISH | 50.04% | 49.96% |
5.25% Daily 17.04% Weekly |
-6.10% Daily -18.14% Weekly |
-0.74% Daily -3.65% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 5% | -8% | -2% |
| Weekly | 14% | -19% | -5% |
GBP/USD: Retail trader data shows 50.04% 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 Nov 24 when GBP/USD traded near 1.26, price has moved 0.30% lower since then. The number of traders net-long is 5.25% higher than yesterday and 17.04% higher from last week, while the number of traders net-short is 6.10% lower than yesterday and 18.14% 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 Nov 24, 2023 when GBP/USD traded near 1.26. 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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