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.
Number of traders net-short has decreased by 7.60% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
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.
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