Technical Analysis

GBP/USD Sentiment is Unable to Present a Clear course

IG CLIENT SENTIMENT

72% Of Retail Merchants are Web-Lengthy

GBPUSD: Retail dealer information exhibits 72.zero% of merchants are net-long with the ratio of merchants lengthy to quick at 2.57 to 1. In actual fact, merchants have remained net-long since Sep 20 when GBPUSD traded close to 1.30258; worth has moved 2.zero% decrease since then. The variety of merchants net-long is 11.9% decrease than yesterday and three.9% greater from final week, whereas the variety of merchants net-short is zero.6% decrease than yesterday and 1.three% greater from final week.

GBPUSD Sentiment Prompts a Blended Bias

We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests GBPUSD costs could proceed to fall. Positioning is much less net-long than yesterday however extra net-long from final week. The mix of present sentiment and up to date modifications offers us an additional combined GBPUSD buying and selling bias.

— Written by Fan Xu, DailyFX Analysis


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