GBP/USD IG Client Sentiment: Our data shows traders are now at their most net-long GBP/USD since Apr 12 when GBP/USD traded near 1.37.
Number of traders net-short has decreased by 36.33% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
GBP/USD: Retail trader data shows 65.54% of traders are net-long with the ratio of traders long to short at 1.90 to 1. Our data shows traders are now at their most net-long GBP/USD since Apr 12 when GBP/USD traded near 1.37. The number of traders net-long is 8.02% higher than yesterday and 41.47% higher from last week, while the number of traders net-short is 10.48% lower than yesterday and 36.33% 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.
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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