GBP/USD IG Client Sentiment: Our data shows traders are now net-short GBP/USD for the first time since Dec 13, 2019 when GBP/USD traded near 1.33.

Number of traders net-short has increased by 106.63% from last week.

GBP/USD: Retail trader data shows 49.69% of traders are net-long with the ratio of traders short to long at 1.01 to 1. In fact, traders have remained net-short since Dec 13 when GBP/USD traded near 1.33, price has moved 7.11% lower since then. The number of traders net-long is 3.68% lower than yesterday and 25.00% lower from last week, while the number of traders net-short is 6.64% higher than yesterday and 106.63% higher from last week.

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

Our data shows traders are now net-short GBP/USD for the first time since Dec 13, 2019 when GBP/USD traded near 1.33. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bullish contrarian trading bias.