EUR/GBP IG Client Sentiment: Our data shows traders are now net-long EUR/GBP for the first time since May 20, 2020 when EUR/GBP traded near 0.90.

Number of traders net-short has decreased by 3.57% from last week.

EUR/GBP: Retail trader data shows 50.15% of traders are net-long with the ratio of traders long to short at 1.01 to 1. In fact, traders have remained net-long since May 20 when EUR/GBP traded near 0.90, price has moved 0.66% lower since then. The number of traders net-long is 47.43% higher than yesterday and 31.63% higher from last week, while the number of traders net-short is 3.02% lower than yesterday and 3.57% lower from last week.

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

Our data shows traders are now net-long EUR/GBP for the first time since May 20, 2020 when EUR/GBP traded near 0.90. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/GBP-bearish contrarian trading bias.