GBP/USD IG Client Sentiment: Our data shows traders are now net-long GBP/USD for the first time since May 14, 2024 when GBP/USD traded near 1.26.
Number of traders net-short has decreased by 30.90% from last week.
|
SYMBOL
|
TRADING BIAS
|
NET-LONG%
|
NET-SHORT%
|
CHANGE IN LONGS
|
CHANGE IN SHORTS
|
CHANGE IN OI
|
|
GBP/USD
|
BEARISH
|
50.51%
|
49.49%
|
28.13%
Daily
31.03%
Weekly
|
-20.71%
Daily
-30.90%
Weekly
|
-1.81%
Daily
-9.23%
Weekly
|
of clients are
net long.
of clients are
net short.
|
Change in
|
Longs
|
Shorts
|
OI
|
|
Daily
|
29%
|
-24%
|
-2%
|
|
Weekly
|
14%
|
-22%
|
-5%
|
What could changes and extremes in retail trading signal for the market?
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GBP/USD
:
Retail trader data shows 50.51% of traders are net-long with the ratio of traders long to short at 1.02 to 1.
In fact, traders have remained net-long since May 14 when
GBP
/
USD
traded near 1.26, price has moved 0.63% higher since then. The number of traders net-long is 28.13% higher than yesterday and 31.03% higher from last week, while the number of traders net-short is 20.71% lower than yesterday and 30.90% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBP/USD
prices
may continue to fall.
Our data shows traders are now net-long GBP/USD for the first time since May 14, 2024 when GBP/USD traded near 1.26. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bearish contrarian trading bias.
