Number of merchants net-short has elevated by 16.29% from final week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
GBP/USD: Retail dealer knowledge exhibits 36.43% of merchants are net-long with the ratio of merchants quick to lengthy at 1.75 to 1. Our knowledge exhibits merchants at the moment are at their least net-long GBP/USD since Jan 14 when GBP/USD traded close to 1.37. The variety of merchants net-long is 21.62% decrease than yesterday and 18.02% decrease from final week, whereas the variety of merchants net-short is 11.56% greater than yesterday and 16.29% greater from final week.
We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-short suggests GBP/USD prices could proceed to rise.
Traders are additional net-short than yesterday and final week, and the mix of present sentiment and up to date modifications provides us a stronger GBP/USD-bullish contrarian buying and selling bias.