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
Cable Trades with Mixed Bias

Cable Trades with Mixed Bias

Dylan Jusino, Contributor

Share:

GBPUSD: Retail trader data shows 39.2% of traders are net-long with the ratio of traders short to long at 1.55 to 1. In fact, traders have remained net-short since Mar 21 when GBPUSD traded near 1.39422; price has moved 1.4% higher since then. The number of traders net-long is 7.4% lower than yesterday and 13.0% higher from last week, while the number of traders net-short is 1.4% higher than yesterday and 7.1% 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 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.

--- Written by Dylan Jusino, DailyFX Research

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

DISCLOSURES