EUR/GBP IG Client Sentiment: Our data shows traders are now net-short EUR/GBP for the first time since Mar 22, 2022 10:00 GMT when EUR/GBP traded near 0.83.

Number of traders net-short has decreased by 1.98% from last week.

EUR/GBP: Retail trader data shows 49.78% 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 Mar 22 when EUR/GBP traded near 0.83, price has moved 1.67% higher since then. The number of traders net-long is 15.06% lower than yesterday and 22.87% lower from last week, while the number of traders net-short is 25.27% higher than yesterday and 1.98% lower 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 Mar 22, 2022 10:00 GMT when EUR/GBP traded near 0.83. 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.