GBP/USD IG Client Sentiment: Our data shows traders are now net-short GBP/USD for the first time since Oct 24, 2019 10:00 GMT when GBP/USD traded near 1.28.
Number of traders net-short has decreased by 2.22% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
GBP/USD: Retail trader data shows 49.94% of traders are net-long with the ratio of traders short to long at 1.00 to 1. In fact, traders have remained net-short since Oct 24 when GBP/USD traded near 1.28, price has moved 0.95% higher since then. The number of traders net-long is 7.46% lower than yesterday and 4.77% lower from last week, while the number of traders net-short is 11.58% higher than yesterday and 2.22% lower from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests GBP/USD prices may continue to rise. Our data shows traders are now net-short GBP/USD for the first time since Oct 24, 2019 10:00 GMT when GBP/USD traded near 1.28. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bullish contrarian trading bias.
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