EUR/GBP IG Client Sentiment: Our data shows traders are now net-long EUR/GBP for the first time since May 12, 2020 15:00 GMT when EUR/GBP traded near 0.88.
Number of traders net-short has decreased by 5.39% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
EUR/GBP: Retail trader data shows 50.10% of traders are net-long with the ratio of traders long to short at 1.00 to 1. In fact, traders have remained net-long since May 12 when EUR/GBP traded near 0.88, price has moved 1.52% higher since then. The number of traders net-long is 17.38% higher than yesterday and 20.54% higher from last week, while the number of traders net-short is 1.80% lower than yesterday and 5.39% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/GBP prices may continue to fall.
Our data shows traders are now net-long EUR/GBP for the first time since May 12, 2020 15:00 GMT when EUR/GBP traded near 0.88. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/GBP-bearish contrarian trading bias.
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