GBP/USD IG Client Sentiment: Our data shows traders are now net-long GBP/USD for the first time since Dec 03, 2019 when GBP/USD traded near 1.30.
Number of traders net-short has decreased by 18.56% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
GBP/USD: Retail trader data shows 50.59% of traders are net-long with the ratio of traders long to short at 1.02 to 1. In fact, traders have remained net-long since Dec 03 when GBP/USD traded near 1.30, price has moved 2.57% higher since then. The number of traders net-long is 5.59% higher than yesterday and 13.29% higher from last week, while the number of traders net-short is 16.36% lower than yesterday and 18.56% lower from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBP/USD prices may continue to fall. Our data shows traders are now net-long GBP/USD for the first time since Dec 03, 2019 when GBP/USD traded near 1.30. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bearish contrarian trading bias.
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