Number of traders net-short has increased by 17.03% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
EUR/GBP: Retail trader data shows 49.61% of traders are net-long with the ratio of traders short to long at 1.02 to 1. In fact, traders have remained net-short since Oct 12 when EUR/GBP traded near 0.87, price has moved 0.10% lower since then. The number of traders net-long is 0.32% higher than yesterday and 16.97% lower from last week, while the number of traders net-short is 43.56% higher than yesterday and 17.03% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EUR/GBP prices may continue to rise.
Our data shows traders are now net-short EUR/GBP for the first time since Oct 12, 2022 when EUR/GBP traded near 0.87. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/GBP-bullish contrarian trading bias.