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 |
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.