TRADERS REMAIN NET-SHORT
GBPUSD: Retail trader data shows 45.3% of traders are net-long with the ratio of traders short to long at 1.21 to 1. The number of traders net-long is 1.9% higher than yesterday and 0.5% lower from last week, while the number of traders net-short is 1.7% lower than yesterday and 35.7% higher from last week.
For more in-depth analysis, check out the Q1 2019 Forecast for the GBP
GBPUSD: SENTIMENT SUGGESTS A MIXED BIAS
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.
--- Written by Nancy Pakbaz, CFA, DailyFX Research
Follow Nancy on Twitter @NancyPakbazFX