Forexrobots24

forex advisor developer

EUR/GBP IG Client Sentiment: Our data shows traders are now net-long EUR/GBP for the first time since Jul 07, 2020 when EUR/GBP traded near 0.90.

EUR/GBP Client Positioning

Number of traders net-short has decreased by 25.48% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

EUR/GBP

BEARISH

50.59%

49.41%

19.08% Daily

63.92% Weekly

-8.83% Daily

-25.48% Weekly

3.43% Daily

2.91% Weekly

EUR/GBP: Retail trader data shows 50.59% of traders are net-long with the ratio of traders long to short at 1.02 to 1. In fact, traders have remained net-long since Jul 07 when EUR/GBP traded near 0.90, price has moved 0.56% higher since then. The number of traders net-long is 19.08% higher than yesterday and 63.92% higher from last week, while the number of traders net-short is 8.83% lower than yesterday and 25.48% 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 Jul 07, 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.