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EUR/GBP IG Client Sentiment: Our data shows traders are now net-long EUR/GBP for the first time since Jul 22, 2020 when EUR/GBP traded near 0.91.

EUR/GBP IG Client Sentiment: Our data shows traders are now net-long EUR/GBP for the first time since Jul 22, 2020 when EUR/GBP traded near 0.91.

2020-08-19 12:23:00
Research, Research Team
Share:
EUR/GBP Client Positioning

Number of traders net-short has decreased by 7.60% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

EUR/GBP

BEARISH

50.47%

49.53%

13.65% Daily

23.21% Weekly

-10.40% Daily

-7.60% Weekly

0.31% Daily

5.75% Weekly

EUR/GBP: Retail trader data shows 50.47% of traders are net-long with the ratio of traders long to short at 1.02 to 1. In fact, traders have remained net-long since Jul 22 when EUR/GBP traded near 0.91, price has moved 0.52% lower since then. The number of traders net-long is 13.65% higher than yesterday and 23.21% higher from last week, while the number of traders net-short is 10.40% lower than yesterday and 7.60% 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 Jul 22, 2020 when EUR/GBP traded near 0.91. 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.

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

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