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EUR/GBP IG Client Sentiment: Our data shows traders are now net-short EUR/GBP for the first time since Jul 21, 2021 when EUR/GBP traded near 0.86.

EUR/GBP IG Client Sentiment: Our data shows traders are now net-short EUR/GBP for the first time since Jul 21, 2021 when EUR/GBP traded near 0.86.

Research, Research Team
EUR/GBP Client Positioning

Number of traders net-short has increased by 40.57% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

EUR/GBP

BULLISH

49.54%

50.46%

0.21% Daily

-35.86% Weekly

15.49% Daily

40.57% Weekly

7.38% Daily

-11.60% Weekly

EUR/GBP: Retail trader data shows 49.54% 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 Jul 21 when EUR/GBP traded near 0.86, price has moved 0.30% lower since then. The number of traders net-long is 0.21% higher than yesterday and 35.86% lower from last week, while the number of traders net-short is 15.49% higher than yesterday and 40.57% 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 Jul 21, 2021 when EUR/GBP traded near 0.86. 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.

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