Number of traders net-short has increased by 76.60% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
GBP/USD: Retail trader data shows 36.47% of traders are net-long with the ratio of traders short to long at 1.74 to 1. Our data shows traders are now at their least net-long GBP/USD since May 01 when GBP/USD traded near 1.25. The number of traders net-long is 20.49% lower than yesterday and 40.00% lower from last week, while the number of traders net-short is 39.55% higher than yesterday and 76.60% 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.
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.