Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
Participation Down by Nearly -40% Versus Monthly Average in GBP/USD

Participation Down by Nearly -40% Versus Monthly Average in GBP/USD

GBPUSD - The ratio of long to short positions in the GBPUSD stands at -1.01 as 50% of traders are long. Yesterday the ratio was -1.18; 46% of open positions were long. Long positions are 9.8% lower than yesterday and 50.7% below levels seen last week. Short positions are 22.6% lower than yesterday and 1.8% above levels seen last week. Open interest is 16.7% lower than yesterday and 38.0% below its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the GBPUSD may continue higher. The trading crowd has grown less net-short from yesterday but unchanged since last week. The combination of current sentiment and recent changes gives a further mixed trading bias.

Read more: Brexit Referendum Timeline: When Will Districts Report Results?

--- Written by Christopher Vecchio, Currency Strategist

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES