GBPUSD: 80.4% of Traders are Net-Long
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”:
(click on one of the above times to enroll)
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.