EUR/GBP IG Client Sentiment: Our data shows traders are now at their most net-long EUR/GBP since May 05 when EUR/GBP traded near 0.85.
Number of traders net-short has decreased by 8.89% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
EUR/GBP: Retail trader data shows 68.80% of traders are net-long with the ratio of traders long to short at 2.21 to 1. Our data shows traders are now at their most net-long EUR/GBP since May 05 when EUR/GBP traded near 0.85. The number of traders net-long is 16.36% higher than yesterday and 1.09% lower from last week, while the number of traders net-short is 15.34% lower than yesterday and 8.89% 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.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.