Variety of merchants net-short has elevated by 16.29% from final week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| GBP/USD | BULLISH | 36.43% | 63.57% |
-21.62% Each day -18.02% Weekly |
11.56% Each day 16.29% Weekly |
-3.35% Each day 0.90% Weekly |
GBP/USD: Retail dealer information reveals 36.43% of merchants are net-long with the ratio of merchants brief to lengthy at 1.75 to 1. Our information reveals merchants at the moment are at their least net-long GBP/USD since Jan 14 when GBP/USD traded close to 1.37. The variety of merchants net-long is 21.62% decrease than yesterday and 18.02% decrease from final week, whereas the variety of merchants net-short is 11.56% larger than yesterday and 16.29% larger from final week.
We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-short suggests GBP/USD costs might proceed to rise.
Merchants are additional net-short than yesterday and final week, and the mix of present sentiment and up to date adjustments offers us a stronger GBP/USD-bullish contrarian buying and selling bias.
