69% OF TRADERS ARE NET-LONG
GBPUSD: Retail trader data shows 69.0% of traders are net-long with the ratio of traders long to short at 2.22 to 1. The number of traders net-long is 1.5% lower than yesterday and 5.3% higher from last week, while the number of traders net-short is 5.7% lower than yesterday and 17.2% 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”:
(click on one of the above times to enroll)
GBPUSD: SENTIMENT CONTINUES TO SUGGEST 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
