EUR/GBP IG Client Sentiment: Our data shows traders are now net-short EUR/GBP for the first time since May 25, 2022 when EUR/GBP traded near 0.85.

Number of traders net-short has increased by 0.30% from last week.

EUR/GBP: Retail trader data shows 49.01% of traders are net-long with the ratio of traders short to long at 1.04 to 1. In fact, traders have remained net-short since May 25 when EUR/GBP traded near 0.85, price has moved 1.98% higher since then. The number of traders net-long is 18.94% lower than yesterday and 21.71% lower from last week, while the number of traders net-short is 7.74% higher than yesterday and 0.30% 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 May 25, 2022 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.