Number of traders net-short has increased by 32.47% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
EUR/GBP: Retail trader data shows 49.94% of traders are net-long with the ratio of traders short to long at 1.00 to 1. In fact, traders have remained net-short since May 05 when EUR/GBP traded near 0.87, price has moved 1.35% higher since then. The number of traders net-long is 10.30% higher than yesterday and 0.49% lower from last week, while the number of traders net-short is 31.61% higher than yesterday and 32.47% 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 May 05, 2020 10:00 GMT 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.