Technical Analysis

GBPUSD: 60% of Merchants Are Web-Lengthy

GBPUSD

NET-SHORT TRADERS INCREASE BY 79.2% FROM LAST WEEK

GBPUSD: Retail dealer knowledge exhibits 60.zero% of merchants are net-long with the ratio of merchants lengthy to brief at 1.5 to 1. Actually, merchants have remained net-long since Feb 04 when GBPUSD traded close to 1.30262; value has moved zero.6% decrease since then. The variety of merchants net-long is four.three% larger than yesterday and 48.2% larger from final week, whereas the variety of merchants net-short is 5.5% larger than yesterday and 79.2% larger from final week.

For extra in-depth evaluation, try the Q1 2019 Forecast for the GBP

GBPUSD: SENTIMENT SUGGESTS PRICE TREND MAY SOON REVERSE

We sometimes take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests GBPUSD costs might proceed to fall. But merchants are much less net-long than yesterday and in contrast with final week. Latest modifications in sentiment warn that the present GBPUSD value development might quickly reverse larger regardless of the actual fact merchants stay net-long.

— Written by Nancy Pakbaz, CFA, DailyFX Analysis

Comply with Nancy on Twitter @NancyPakbazFX


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