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.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bearish
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
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • China's #Yuan falls 0.28% to 7.1560/USD which is the weakest since September 2019 -BBG
  • Silver has been beaten handily by gold in the rush to haven assets inspired by the contagion. However, the gold/silver ratio was rising steadily before this crisis and will probably continue to do so. Get your #silver market update from @DavidCottleFX here:https://t.co/00DiZn6XZS https://t.co/Ep6p4HgiAU
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: -0.01% Silver: -0.28% Oil - US Crude: -1.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/uGnOx2D3QE
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.05% 🇨🇭CHF: -0.08% 🇨🇦CAD: -0.10% 🇪🇺EUR: -0.16% 🇳🇿NZD: -0.17% 🇦🇺AUD: -0.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/1fVY4dfYMN
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.52%, while traders in US 500 are at opposite extremes with 76.00%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/HZ4bR3qFl2
  • Hey there traders, if you missed this week's session on IGCS where I discussed the #SP500, #FTSE100 and #CAC40, check out the recording on YouTube here - https://t.co/CJhhtY5WDJ
  • RBNZ Governor Orr: Is 'early days' for business lending schemes, expects schemes to be used more in coming months. Some payments from schemes put into bank deposits -BBG
  • Heads Up:🇨🇳 Industrial Profits (YTD) YoY due at 01:30 GMT (15min) Previous: -36.7% https://www.dailyfx.com/economic-calendar#2020-05-27
  • The US Dollar seems to have technical setups versus #ASEAN currencies such as the Singapore Dollar, Malaysian Ringgit, Indonesian Rupiah, and Philippine Peso that could go either way. Get your ASEAN currencies market update from @ddubrovskyFX here: https://t.co/qOofxVUI8t https://t.co/F6p8jediYz
  • The US Dollar could rise against #ASEAN currencies such as the Singapore Dollar as US-China tensions seem to escalate. The Indian Rupee is also looking ahead of local 1Q GDP data.Get your market update from @ddubrovskyFX here:https://t.co/LkEFJViPWY https://t.co/fc07BMitLx
British Pound Direction Uncertain, but Trend Favors Gains

British Pound Direction Uncertain, but Trend Favors Gains

2017-08-07 17:20:00
David Rodriguez, Head of Product
Share:
British Pound Direction Uncertain, but Trend Favors Gains

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

GBPUSD: Retail trader data shows 40.5% of traders are net-long with the ratio of traders short to long at 1.47 to 1. In fact, traders have remained net-short since Jun 23 when GBPUSD traded near 1.27733; price has moved 2.0% higher since then. The number of traders net-long is 6.6% higher than yesterday and 3.5% higher from last week, while the number of traders net-short is 20.5% higher than yesterday and 0.5% higher 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 more net-short than yesterday but less net-short from last week. The combination of current sentiment and recent changes gives us a further mixed GBPUSD trading bias.

See next article in this week’s report:USDJPY - US Dollar Remains a Sell versus Japanese Yen

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

DISCLOSURES

News & Analysis at your fingertips.