Technical Analysis

GBP/USD Sentiment is Unable to Present a Clear path

GBP/USD Sentiment is Unable to Provide a Clear direction

66% Of Retail Merchants are Web-Lengthy

GBPUSD: Retail dealer information exhibits 66.eight% of merchants are net-long with the ratio of merchants lengthy to brief at 2.01 to 1. The truth is, merchants have remained net-long since Sep 20 when GBPUSD traded close to 1.30463; worth has moved zero.eight% decrease since then. The variety of merchants net-long is increased than yesterday and decrease from final week, whereas the variety of merchants net-short is 2.6% increased than yesterday and eight.three% decrease from final week.

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GBPUSD Sentiment Prompts a Combined Bias

We sometimes take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests GBPUSD costs might proceed to fall. Positioning is much less net-long than yesterday however extra net-long from final week. The mixture of present sentiment and up to date adjustments provides us an additional blended GBPUSD buying and selling bias.

— Written by Jake Schoenleb, DailyFX Analysis

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