Number of traders net-short has decreased by 1.10% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
GBP/USD: Retail trader data shows 34.90% of traders are net-long with the ratio of traders short to long at 1.87 to 1. Our data shows traders are now at their least net-long GBP/USD since Nov 23 when GBP/USD traded near 1.21. The number of traders net-long is 26.14% lower than yesterday and 15.13% lower from last week, while the number of traders net-short is 20.46% higher than yesterday and 1.10% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests GBP/USD prices may continue to rise.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bullish contrarian trading bias.