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