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Number of traders net-short has increased by 41.96% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| GBP/USD | BULLISH | 48.96% | 51.04% |
-21.27% Daily -39.17% Weekly |
14.88% Daily 41.96% Weekly |
-6.20% Daily -14.12% Weekly |
GBP/USD: Retail trader data shows 48.96% of traders are net-long with the ratio of traders short to long at 1.04 to 1. In fact, traders have remained net-short since Oct 27 when GBP/USD traded near 1.16, price has moved 0.78% higher since then. The number of traders net-long is 21.27% lower than yesterday and 39.17% lower from last week, while the number of traders net-short is 14.88% higher than yesterday and 41.96% higher 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.
Our data shows traders are now net-short GBP/USD for the first time since Oct 27, 2022 when GBP/USD traded near 1.16. 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.
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