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British Pound Mixed According to This

British Pound Mixed According to This

DailyFX Research,
British Pound Mixed According to This

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

GBPUSD: Retail trader data shows 37.8% of traders are net-long with the ratio of traders short to long at 1.64 to 1. In fact, traders have remained net-short since Apr 12 when GBPUSD traded near 1.23716; price has moved 4.5% higher since then. The number of traders net-long is 9.5% higher than yesterday and 15.0% lower from last week, while the number of traders net-short is 1.2% lower than yesterday and 2.4% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests GBPUSD prices may continue to rise. Positioning is less net-short than yesterday but more net-short from last week. The combination of current sentiment and recent changes gives us a further mixed GBPUSD trading bias.

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

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