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.
Number of traders net-short has increased by 40.57% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
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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