Forexrobots24

forex advisor developer

GBP/USD IG Client Sentiment: Our data shows traders are now net-long GBP/USD for the first time since Oct 16, 2020 when GBP/USD traded near 1.29.

GBP/USD Client Positioning

Number of traders net-short has decreased by 17.04% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

GBP/USD

BEARISH

50.93%

49.07%

28.51% Daily

35.76% Weekly

-0.36% Daily

-17.04% Weekly

12.51% Daily

3.45% Weekly

GBP/USD: Retail trader data shows 50.93% of traders are net-long with the ratio of traders long to short at 1.04 to 1. In fact, traders have remained net-long since Oct 16 when GBP/USD traded near 1.29, price has moved 0.80% higher since then. The number of traders net-long is 28.51% higher than yesterday and 35.76% higher from last week, while the number of traders net-short is 0.36% lower than yesterday and 17.04% lower from last week.

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

Our data shows traders are now net-long GBP/USD for the first time since Oct 16, 2020 when GBP/USD traded near 1.29. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bearish contrarian trading bias.

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