GBP/USD IG Client Sentiment: Our data shows traders are now net-short GBP/USD for the first time since Oct 29, 2021 when GBP/USD traded near 1.37.


Number of traders net-short has increased by 16.90% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI


GBP/USD

BULLISH

49.59%

50.41%

-1.00%
Daily

-10.15%
Weekly

4.08%
Daily

16.90%
Weekly

1.49%
Daily

1.72%
Weekly

GBP/USD: Retail trader data shows 49.59% of traders are net-long with the ratio of traders short to long at 1.02 to 1. In fact, traders have remained net-short since Oct 29 when GBP/USD traded near 1.37, price has moved 0.68% lower since then. The number of traders net-long is 1.00% lower than yesterday and 10.15% lower from last week, while the number of traders net-short is 4.08% higher than yesterday and 16.90% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests GBP/USD prices may continue to rise.

Our data shows traders are now net-short GBP/USD for the first time since Oct 29, 2021 when GBP/USD traded near 1.37. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bullish contrarian trading bias.





Source link