Alerts

GBP/USD IG Shopper Sentiment: Our information exhibits merchants at the moment are net-long GBP/USD for the primary time since Dec 03, 2019 when GBP/USD traded close to 1.30.

GBP/USD chart

Variety of merchants net-short has decreased by 18.56% from final week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

GBP/USD

BEARISH

50.59%

49.41%

5.59%
Day by day

13.29%
Weekly

-16.36%
Day by day

-18.56%
Weekly

-6.53%
Day by day

-5.05%
Weekly

GBP/USD: Retail dealer information exhibits 50.59% of merchants are net-long with the ratio of merchants lengthy to quick at 1.02 to 1. In truth, merchants have remained net-long since Dec 03 when GBP/USD traded close to 1.30, worth has moved 2.57% increased since then. The variety of merchants net-long is 5.59% increased than yesterday and 13.29% increased from final week, whereas the variety of merchants net-short is 16.36% decrease than yesterday and 18.56% decrease from final week. We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests GBP/USD costs could proceed to fall. Our information exhibits merchants at the moment are net-long GBP/USD for the primary time since Dec 03, 2019 when GBP/USD traded close to 1.30. Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date adjustments offers us a stronger GBP/USD-bearish contrarian buying and selling bias.


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