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GBPUSD: 80.4% of Traders are Net-Long

GBPUSD: 80.4% of Traders are Net-Long

Warren Venketas, Analyst
EUR/USD sentiment

NET-LONG POSITIONS ARE 5.8% LOWER FROM LAST WEEK

GBPUSD: Retail trader data shows 80.4% of traders are net-long with the ratio of traders long to short at 4.09 to 1. In fact, traders have remained net-long since May 06 when GBPUSD traded near 1.30315; price has moved 2.2% lower since then. The number of trader’s net-long is 0.8% higher than yesterday and 5.8% lower from last week, while the number of trader’s net-short is 4.8% higher than yesterday and 15.7% 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 SUGGESTS A MIXED TRADING BIAS

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggesting 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 Warren Venketas, DailyFX Research

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

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