GBP/USD IG Client Sentiment: Our data shows traders are now net-long GBP/USD for the first time since Dec 30, 2020 09:00 GMT when GBP/USD traded near 1.36.
Number of traders net-short has decreased by 23.13% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
GBP/USD: Retail trader data shows 50.89% of traders are net-long with the ratio of traders long to short at 1.04 to 1. In fact, traders have remained net-long since Dec 30 when GBP/USD traded near 1.36, price has moved 0.54% lower since then. The number of traders net-long is 5.03% higher than yesterday and 23.58% higher from last week, while the number of traders net-short is 4.73% lower than yesterday and 23.13% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBP/USD prices may continue to fall.
Our data shows traders are now net-long GBP/USD for the first time since Dec 30, 2020 09:00 GMT when GBP/USD traded near 1.36. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bearish contrarian trading bias.
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