61.9% of Traders Are Net-Long

61.9% of Traders Are Net-Long


GBPUSD

NUMBER OF NET-LONG TRADERS ARE 12.9% HIGHER FROM LAST WEEK

GBPUSD: Retail trader data shows 61.9% of traders are net-long with the ratio of traders long to short at 1.63 to 1. The percentage of traders net-long is now its highest since Feb 17 when GBPUSD traded near 1.29034. The number of traders net-long is 2.4% lower than yesterday and 12.9% higher from last week, while the number of traders net-short is 32.0% lower than yesterday and 39.6% lower from last week.

GBPUSD: SENTIMENT SUGGESTS A BEARISH TRADING BIAS

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBPUSD 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 GBPUSD-bearish contrarian trading bias.

To gain more insight in how we use sentiment to supplement a strategy, join us for one of our weekly webinars on how to “Identify Trends with Sentiment”:

Tuesday 20:00 GMT

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(click on one of the above times to enroll)

— Written by Nancy Pakbaz, CFA, DailyFX Research

Follow Nancy on Twitter @NancyPakbazFX





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