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00 GMT as GBP/USD trades near 1.24.

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The number of net-short traders has increased by 9.64% since last week.

SYMBOL COMMERCIAL SUBJECT NET-LONG % NET-SHORT % CHANGE FOR LONG CHANGE IN BRIEF CHANGE IN OI
GBP/USD BULL 48.19% 51.81%

-17.40% Daily

-20.80% Weekly

27.34% Daily

9.64% Weekly

0.98% Daily

-7.49% Weekly




clients are clean long.




clients are clean short.

Change in

Longs

Shorts

O.I

Daily 7% 5% 6%
Weekly 40% -14% 2%

GBP/USD: Retail trader data shows that 48.19% of traders are pure long traders with a ratio of short to long traders of 1.08 to 1. In fact, traders have remained net short since May 22 GBP/American dollar trading near 1.24, the price has since moved 0.18% lower. Net long traders are 17.40% lower than yesterday and 20.80% lower than last week, while net long traders are 27.34% higher than yesterday and 9.64% higher than last week .

We usually take a contrarian view on crowd sentiment and the fact that traders are short suggests GBP/USD prices may continue to rise.

Our data shows that traders are now net short GBP/USD for the first time since 22 May 2023 14:00 GMT when GBP/USD was trading near 1.24. Traders are further net-short than yesterday and last week and the combination of current sentiment and recent changes gives us a stronger contrarian trading bias towards GBP/USD.



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