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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
GBP/USD
Bullish
USD/JPY
Bullish
More View more
British Pound Sentiment Sees Big Shift - Rallies Likely

British Pound Sentiment Sees Big Shift - Rallies Likely

2017-03-17 14:30:00
David Rodriguez, Head of Product
Share:
British Pound Sentiment Sees Big Shift - Rallies Likely

Why and how do we use IG Client Sentiment in trading? See our guide.

GBPUSD: Retail trader data shows 60.6% of traders are net-long with the ratio of traders long to short at 1.54 to 1. In fact, traders have remained net-long since Feb 24 when GBPUSD traded near 1.25537; price has moved 1.6% lower since then. The number of traders net-long is 11.8% lower than yesterday and 32.9% lower from last week, while the number of traders net-short is 8.1% higher than yesterday and 33.5% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBPUSD prices may continue to fall. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current GBPUSD price trend may soon reverse higher despite the fact traders remain net-long.

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

DISCLOSURES