Forexrobots24

forex advisor developer

EUR/GBP IG Client Sentiment: Our data shows traders are now net-long EUR/GBP for the first time since Jun 11, 2020 when EUR/GBP traded near 0.90.

EUR/GBP Client Positioning

Number of traders net-short has decreased by 12.20% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

EUR/GBP

BEARISH

50.10%

49.90%

30.87% Daily

49.13% Weekly

-2.67% Daily

-12.20% Weekly

11.67% Daily

10.58% Weekly

EUR/GBP: Retail trader data shows 50.10% of traders are net-long with the ratio of traders long to short at 1.00 to 1. In fact, traders have remained net-long since Jun 11 when EUR/GBP traded near 0.90, price has moved 0.42% higher since then. The number of traders net-long is 30.87% higher than yesterday and 49.13% higher from last week, while the number of traders net-short is 2.67% lower than yesterday and 12.20% 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 Jun 11, 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.