Number of traders net-short has increased by 16.29% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
GBP/USD: Retail trader data shows 36.43% of traders are net-long with the ratio of traders short to long at 1.75 to 1. Our data shows traders are now at their least net-long GBP/USD since Jan 14 when GBP/USD traded near 1.37. The number of traders net-long is 21.62% lower than yesterday and 18.02% lower from last week, while the number of traders net-short is 11.56% higher than yesterday and 16.29% 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.
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.