Number of traders net-short has increased by 93.30% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
EUR/GBP: Retail trader data shows 49.66% of traders are net-long with the ratio of traders short to long at 1.01 to 1. In fact, traders have remained net-short since Dec 21 when EUR/GBP traded near 0.85, price has moved 1.26% lower since then. The number of traders net-long is 4.64% lower than yesterday and 46.38% lower from last week, while the number of traders net-short is 3.02% higher than yesterday and 93.30% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EUR/GBP prices may continue to rise.
Our data shows traders are now net-short EUR/GBP for the first time since Dec 21, 2021 when EUR/GBP traded near 0.85. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/GBP-bullish contrarian trading bias.