| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| EUR/GBP | BEARISH | 79.61% | 20.39% |
8.75%Daily 8.56%Weekly |
-10.86%Daily -3.11%Weekly |
4.08%Daily 5.96%Weekly |
| Change in | Longs | Shorts | OI |
| Daily | -3% | -7% | -4% |
| Weekly | 7% | -7% | 3% |
EUR/GBP: Retail trader data shows 79.61% of traders are net-long with the ratio of traders long to short at 3.90 to 1.Our data shows traders are now at their most net-long EUR/GBP since Jun 10 when EUR/GBP traded near 0.85. The number of traders net-long is 8.75% higher than yesterday and 8.56% higher from last week, while the number of traders net-short is 10.86% lower than yesterday and 3.11% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/GBPprices 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 EUR/GBP-bearish contrarian trading bias.
Source https://www.dailyfx.com/analysis/EURGBP-IG-Client-Sentiment-202402080623.html
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