Forexrobots24

forex advisor developer

EUR/GBP IG Client Sentiment: Our data shows traders are now net-short EUR/GBP for the first time since Jan 16, 2020 when EUR/GBP traded near 0.85.

EUR/GBP Client Positioning

Number of traders net-short has increased by 28.66% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

EUR/GBP

BULLISH

49.36%

50.64%

-23.91% Daily

-33.04% Weekly

20.06% Daily

28.66% Weekly

-6.59% Daily

-11.56% Weekly

EUR/GBP: Retail trader data shows 49.36% of traders are net-long with the ratio of traders short to long at 1.03 to 1. In fact, traders have remained net-short since Jan 16 when EUR/GBP traded near 0.85, price has moved 0.06% higher since then. The number of traders net-long is 23.91% lower than yesterday and 33.04% lower from last week, while the number of traders net-short is 20.06% higher than yesterday and 28.66% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EUR/GBP prices may continue to rise.

Our data shows traders are now net-short EUR/GBP for the first time since Jan 16, 2020 when EUR/GBP traded near 0.85. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/GBP-bullish contrarian trading bias.