TRADERS NET-SHORT INCREASED FROM LAST WEEK
GBPUSD: Retail dealer information reveals 46.zero% of merchants are net-long with the ratio of merchants brief to lengthy at 1.17 to 1. The variety of merchants net-long is three.9% larger than yesterday and 22.four% decrease from final week, whereas the variety of merchants net-short is 2.1% larger than yesterday and 34.9% larger from final week.
GBPUSD SENTIMENT SUGGESTS A MIXED BIAS
We usually take a contrarian view to crowd sentiment, and the actual fact merchants are net-short suggests GBPUSD costs could proceed to rise. Positioning is much less net-short than yesterday however extra net-short from final week. The mixture of present sentiment and up to date adjustments offers us an additional blended GBPUSD buying and selling bias.
— Written by Nancy Pakbaz, CFA, DailyFX Analysis