Number of traders net-short has decreased by 1.74% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
EUR/GBP: Retail trader data shows 40.24% of traders are net-long with the ratio of traders short to long at 1.48 to 1. Our data shows traders are now at their least net-long EUR/GBP since Sep 29 when EUR/GBP traded near 0.86. The number of traders net-long is 27.72% lower than yesterday and 13.92% lower from last week, while the number of traders net-short is 6.47% higher than yesterday and 1.74% 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.
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.