Number of traders net-short has increased by 23.74% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
GBP/USD: Retail trader data shows 28.19% of traders are net-long with the ratio of traders short to long at 2.55 to 1. Our data shows traders are now at their least net-long GBP/USD since Aug 04 when GBP/USD traded near 1.31. The number of traders net-long is 8.28% lower than yesterday and 23.16% lower from last week, while the number of traders net-short is 13.96% higher than yesterday and 23.74% 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.