Our data shows traders are now at their most net-long GBP/USD since Aug 23 when GBP/USD traded near 1.37.

Our data shows traders are now at their most net-long GBP/USD since Aug 23 when GBP/USD traded near 1.37.

Number of traders net-short has decreased by 14.72% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

GBP/USD

BEARISH

75.61%

24.39%

23.11%
Daily

13.06%
Weekly

-20.12%
Daily

-14.72%
Weekly

8.75%
Daily

4.74%
Weekly

GBP/USD: Retail trader data shows 75.61% of traders are net-long with the ratio of traders long to short at 3.10 to 1. Our data shows traders are now at their most net-long GBP/USD since Aug 23 when GBP/USD traded near 1.37. The number of traders net-long is 23.11% higher than yesterday and 13.06% higher from last week, while the number of traders net-short is 20.12% lower than yesterday and 14.72% 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.

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.

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Originally Posted on: https://www.dailyfx.com/forex/technical/sentiment/2021/09/28/GBPUSD-IG-Client-Sentiment-1825.html
By: Research

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