Number of traders net-short has decreased by 3.04% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
GBP/USD: Retail trader data shows 83.89% of traders are net-long with the ratio of traders long to short at 5.21 to 1. Our data shows traders are now at their most net-long GBP/USD since Apr 24 when GBP/USD traded near 1.28. The number of traders net-long is 7.42% higher than yesterday and 8.64% higher from last week, while the number of traders net-short is 14.34% lower than yesterday and 3.04% 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.
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.