EUR/GBP IG Client Sentiment: Our data shows traders are now net-short EUR/GBP for the first time since Apr 15, 2020 when EUR/GBP traded near 0.87.

Number of traders net-short has increased by 3.26% from last week.

EUR/GBP: Retail trader data shows 49.60% of traders are net-long with the ratio of traders short to long at 1.02 to 1. In fact, traders have remained net-short since Apr 15 when EUR/GBP traded near 0.87, price has moved 0.06% higher since then. The number of traders net-long is 2.60% lower than yesterday and 24.75% lower from last week, while the number of traders net-short is 14.80% higher than yesterday and 3.26% 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 Apr 15, 2020 when EUR/GBP traded near 0.87. 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.