GBP/USD IG Client Sentiment: Our data shows traders are now at their least net-long GBP/USD since Dec 12 when GBP/USD traded near 1.35.
Number of traders net-short has increased by 28.35% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
GBP/USD: Retail trader data shows 39.13% of traders are net-long with the ratio of traders short to long at 1.56 to 1. Our data shows traders are now at their least net-long GBP/USD since Dec 12 when GBP/USD traded near 1.35. The number of traders net-long is 23.76% lower than yesterday and 32.89% lower from last week, while the number of traders net-short is 19.04% higher than yesterday and 28.35% higher 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.
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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