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GBPUSD: Traders Net-Long Increased by 13.2% from Last Week

GBPUSD: Traders Net-Long Increased by 13.2% from Last Week

Nancy Pakbaz, CFA, Markets Writer
GBPUSD

55.3% OF TRADERS ARE NET-LONG

GBPUSD: Retail trader data shows 55.3% of traders are net-long with the ratio of traders long to short at 1.24 to 1. The number of traders net-long is 7.4% higher than yesterday and 13.2% higher from last week, while the number of traders net-short is 0.4% higher than yesterday and 15.2% lower from last week.

To gain more insight in how we use sentiment to supplement a strategy, join us for one of our weekly webinars on how to “Identify Trends with Sentiment”:

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GBPUSD: SENTIMENT PROMPTS A 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 Nancy Pakbaz, CFA, DailyFX Research

Follow Nancy on Twitter @NancyPakbazFX

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

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