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.

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
Subscribe
Please try again
More View More
GBPUSD: Potential Reversal Above 1.34 Despite Bearish Bias

GBPUSD: Potential Reversal Above 1.34 Despite Bearish Bias

Abdullah Alamoudi, Contributor
GBP/USD

Traders Remain Net-Long Since Apr 20

GBPUSD: Retail trader data shows 72.3% of traders are net-long with the ratio of traders long to short at 2.62 to 1. In fact, traders have remained net-long since Apr 20 when GBPUSD traded near 1.42933; price has moved 6.5% lower since then. The number of traders net-long is 1.3% lower than yesterday and 2.2% higher from last week, while the number of traders net-short is 10.5% lower than yesterday and 1.5% lower from last week.

GBP Maintains Bearish Trading Bias

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBPUSD prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBPUSD-bearish contrarian trading bias.

--- Written by Abdullah AlAmoudi, DailyFX Research

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

DISCLOSURES