Technical Analysis

GBPUSD: Sentiment Suggests Bearish Buying and selling Bias

GBPUSD

58% OF TRADERS ARE NET-LONG

GBPUSD: Retail dealer information reveals 58.zero% of merchants are net-long with the ratio of merchants lengthy to brief at 1.38 to 1. The variety of merchants net-long is 12.7% greater than yesterday and 17.1% greater from final week, whereas the variety of merchants net-short is 17.1% decrease than yesterday and 19.9% decrease from final week.

For extra in-depth evaluation, take a look at the Q1 2019 Forecast for the GBP

PRICES MAY CONTINUE TO FALL

We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests GBPUSD costs might proceed to fall. Merchants are additional net-long than yesterday and final week, and the mixture of present sentiment and up to date adjustments offers us a stronger GBPUSD-bearish contrarian buying and selling bias.

— Written by Nancy Pakbaz, CFA, DailyFX Analysis

Comply with Nancy on Twitter @NancyPakbazFX


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