Number of traders net-short has increased by 31.66% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| GBP/USD | BULLISH | 29.37% | 70.63% | -6.30% Daily -33.60% Weekly | 6.09% Daily 31.66% Weekly | 2.13% Daily 2.16% Weekly |
| Change in | Longs | Shorts | OI |
| Daily | 1% | 1% | 1% |
| Weekly | 65% | -32% | -7% |
GBP/USD: Retail trader data shows 29.37% of traders are net-long with the ratio of traders short to long at 2.40 to 1. Our data shows traders are now at their least net-long GBP/USD since May 08 when GBP/USD traded near 1.26. The number of traders net-long is 6.30% lower than yesterday and 33.60% lower from last week, while the number of traders net-short is 6.09% higher than yesterday and 31.66% 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.
