EUR/GBP IG Client Sentiment: Our data shows traders are now net-short EUR/GBP for the first time since Apr 26, 2021 20:00 GMT when EUR/GBP traded near 0.87.
Number of traders net-short has increased by 7.34% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
EUR/GBP: Retail trader data shows 49.42% of traders are net-long with the ratio of traders short to long at 1.02 to 1. In fact, traders have remained net-short since Apr 26 when EUR/GBP traded near 0.87, price has moved 0.54% lower since then. The number of traders net-long is 3.47% lower than yesterday and 0.89% lower from last week, while the number of traders net-short is 17.04% higher than yesterday and 7.34% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EUR/GBP prices may continue to rise.
Our data shows traders are now net-short EUR/GBP for the first time since Apr 26, 2021 20:00 GMT when EUR/GBP traded near 0.87. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/GBP-bullish contrarian trading bias.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.