Number of traders net-short has increased by 28.66% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
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.