Number of merchants net-short has decreased by 19.69% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
GBP/USD |
BEARISH |
50.34% |
49.66% |
7.27%
9.62% |
1.02%
-19.69% |
4.07%
-7.20% |
GBP/USD: Retail dealer knowledge reveals 50.34% of merchants are net-long with the ratio of merchants lengthy to quick at 1.01 to 1. In reality, merchants have remained net-long since Jan 07 when GBP/USD traded close to 1.36, value has moved 0.99% decrease since then. The variety of merchants net-long is 7.27% larger than yesterday and 9.62% larger from final week, whereas the variety of merchants net-short is 1.02% larger than yesterday and 19.69% decrease from final week.
We sometimes take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests GBP/USD costs could proceed to fall.
Our knowledge reveals merchants at the moment are net-long GBP/USD for the primary time since Jan 07, 2022 when GBP/USD traded close to 1.36. Traders are additional net-long than yesterday and final week, and the mix of present sentiment and up to date adjustments offers us a stronger GBP/USD-bearish contrarian buying and selling bias.
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