EUR/GBP IG Client Sentiment: Our data shows traders are now net-short EUR/GBP for the first time since Dec 30, 2020 23:00 GMT when EUR/GBP traded near 0.85.
Number of traders net-short has increased by 10.28% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
EUR/GBP: Retail trader data shows 49.89% 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 Dec 30 when EUR/GBP traded near 0.85, price has moved 0.78% lower since then. The number of traders net-long is 3.52% lower than yesterday and 2.67% lower from last week, while the number of traders net-short is 13.11% higher than yesterday and 10.28% 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 Dec 30, 2020 23:00 GMT when EUR/GBP traded near 0.85. 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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