Technical Analysis

GBP/USD Sentiment is Unable to Present a Clear course

IG CLIENT SENTIMENT

66% Of Retail Merchants are Web-Lengthy

GBPUSD: Retail dealer information reveals 66.7% of merchants are net-long with the ratio of merchants lengthy to quick at 2.01 to 1. In truth, merchants have remained net-long since Sep 20 when GBPUSD traded close to 1.30194; worth has moved 1.7% decrease since then. The variety of merchants net-long is 2.9% decrease than yesterday and 1.5% greater from final week, whereas the variety of merchants net-short is 7.three% decrease than yesterday and three.eight% greater 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 could proceed to fall. Positioning is extra net-long than yesterday however much less net-long from final week. The mixture of present sentiment and up to date adjustments provides us an additional combined GBPUSD buying and selling bias.

— Written by Fan Xu, DailyFX Analysis


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