EUR/GBP IG Client Sentiment: Our data shows traders are now net-short EUR/GBP for the first time since Oct 25, 2022 05:00 GMT when EUR/GBP traded near 0.87.
Number of traders net-short has increased by 23.85% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
EUR/GBP: Retail trader data shows 49.13% of traders are net-long with the ratio of traders short to long at 1.04 to 1. In fact, traders have remained net-short since Oct 25 when EUR/GBP traded near 0.87, price has moved 0.24% higher since then. The number of traders net-long is 27.00% lower than yesterday and 18.80% lower from last week, while the number of traders net-short is 21.97% higher than yesterday and 23.85% 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 Oct 25, 2022 05:00 GMT when EUR/GBP traded near 0.87. 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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