
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.
More Stories
British Pound Forecast: Digesting Gains Around Spring Budget – Levels for GBP/JPY, GBP/USD, EUR/GBP
New Zealand Dollar Forecast: Long-term Bullish Outlook Unchanged – Setups for NZD/JPY, NZD/USD
New Zealand Dollar Technical Forecast: NZD/USD, NZD/JPY, NZD/CAD, NZD/CHF