News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.09% US 500: 0.04% France 40: 0.04% FTSE 100: -0.13% Germany 30: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/raVqHjfXWM
  • RT @Amena__Bakr: Saudi Arabia is proposing a rollover for April and May- delegates #OOTT #opec
  • BUZZ starts trading today. An ETF that invests in larger market cap companies with the strongest positive sentiment in social media. That's where we are now
  • Tech stocks suffer further declines as bond yields pick up momentum again. FTSE 100 continues to revert to its mean, bias tilts upward. Get your #FTSE market update from @HathornSabin here:https://t.co/IsU8RCkXFn https://t.co/BXAJEXrFTn
  • RT @Amena__Bakr: No clarity on the 1m saudi voluntary cut yet #OOTT #opec
  • Russia tells OPEC+ meeting gradual release of supply needs to be very careful, step by step - source
  • RT @Amena__Bakr: BUT Russia is making a case for increasing supply - delegates #OOTT #opec
  • RT @Amena__Bakr: The ministers are considering rolling over April and May - sources #OOTT #opec
  • Saudi Arabia is considering extending voluntary oil cut of 1mbpd by one month in April - OPEC+ sources #OOTT
  • $EURUSD is currently trading back around the 1.2040 level today, which has been a key level of support over the past month. The pair headed lower yesterday after attempting to rebound back above the 1.2100 level. $EUR $USD https://t.co/ahaAb0htgK
GBPUSD Sentiment Data Suggest Outlook is Still Bearish

GBPUSD Sentiment Data Suggest Outlook is Still Bearish

Martin Essex, MSTA, Analyst

GBPUSD price and sentiment analysis:

  • Retail trader sentiment data show an increase in net-long GBPUSD positions.
  • A contrarian view of crowd sentiment suggests that could mean further falls to come.

Retail traders increase GBPUSD net-long positions

As GBPUSD falls on opposition to the proposed Brexit deal reached by UK Prime Minister Theresa May with the EU, retail trader data show that 67.6% of traders are now net-long the pair, with the ratio of traders long to short at 2.08 to 1. In fact, traders have remained net-long since September 20, when GBPUSD traded near 1.30463; the price has moved 2.1% lower since then. The number of traders net-long is 11.2% higher than yesterday and 18.0% higher from last week, while the number of traders net-short is only 0.5% higher than yesterday and 7.7% lower from last week.

At DailyFX, we typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests the GBPUSD price 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 GBPUSD-bearish contrarian trading bias.

GBPUSD retail trader positioning.

More to read from earlier today:

Brexit Latest: Sterling Slumps as Brexit Minister Resigns, PM Leadership in Doubt

How Does a Leadership Challenge to a UK Prime Minister Work?

Further GBP Price Drop Likely as Brexit Deal Faces Strong Opposition

Resources to help you trade the forex markets:

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you:

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES