
Number of traders net-short has increased by 3.26% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
EUR/GBP | BULLISH | 49.60% | 50.40% | -2.60% Daily -24.75% Weekly | 14.80% Daily 3.26% Weekly | 5.45% Daily -12.83% Weekly |
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.
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