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GBPUSD: Traders Net-Long Increased by 33.1% from Last Week

GBPUSD: Traders Net-Long Increased by 33.1% from Last Week

Nancy Pakbaz, CFA, Markets Writer
GBPUSD

65.3% OF TRADERS ARE NET-LONG

GBPUSD: Retail trader data shows 65.3% of traders are net-long with the ratio of traders long to short at 1.88 to 1. In fact, traders have remained net-long since Mar 26 when GBPUSD traded near 1.3209; price has moved 1.2% lower since then. The number of traders net-long is 3.4% lower than yesterday and 33.1% higher from last week, while the number of traders net-short is 2.7% higher than yesterday and 19.2% 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 MIXED 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. Positioning is less net-long than yesterday but more net-long 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

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

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