EUR/GBP IG Client Sentiment: Our data shows traders are now at their most net-long EUR/GBP since Jan 19 when EUR/GBP traded near 0.89.
Number of traders net-short has decreased by 22.82% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
EUR/GBP: Retail trader data shows 74.12% of traders are net-long with the ratio of traders long to short at 2.86 to 1. Our data shows traders are now at their most net-long EUR/GBP since Jan 19 when EUR/GBP traded near 0.89. The number of traders net-long is 11.35% higher than yesterday and 13.76% higher from last week, while the number of traders net-short is 0.77% lower than yesterday and 22.82% 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.
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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