Technical Analysis

GBPUSD: Internet-Quick Merchants Are 35.7% Increased from Final Week

GBPUSD

TRADERS REMAIN NET-SHORT

GBPUSD: Retail dealer information reveals 45.three% of merchants are net-long with the ratio of merchants brief to lengthy at 1.21 to 1. The variety of merchants net-long is 1.9% increased than yesterday and zero.5% decrease from final week, whereas the variety of merchants net-short is 1.7% decrease than yesterday and 35.7% increased from final week.

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

GBPUSD: SENTIMENT SUGGESTS A MIXED BIAS

We sometimes 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 provides us an additional blended GBPUSD buying and selling bias.

— Written by Nancy Pakbaz, CFA, DailyFX Analysis

Comply with Nancy on Twitter @NancyPakbazFX


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