Current Position:
30.60% of traders are net-long (buying)69.40% of traders are net-short (selling)The ratio of short to long positions is 2.27 to 1Changes in Long Positions:
Increased by 20.19% since yesterdayIncreased by 44.60% since last weekChanges in Short Positions:
Decreased by 5.87% since yesterdayDecreased by 3.33% since last weekMarket Interpretation:
We generally take a contrarian view to crowd sentiment.The current net-short position suggests EUR/USD prices may continue to rise.However, traders are becoming less net-short compared to yesterday and last week.These recent changes in sentiment suggest caution in predicting further price increases.
Current Position:
25.81% of traders are net-long (buying more than selling)The ratio of short to long positions is 2.88 to 1Recent Changes:
Net-long traders:Increased by 3.41% since yesterdayDecreased by 6.04% since last weekNet-short traders:Decreased by 3.21% since yesterdayIncreased by 13.11% since last weekAnalysis: We usually interpret crowd sentiment in a contrarian manner. Since traders are predominantly short, this suggests GBP/USD prices might rise.
However, the sentiment is mixed:
Compared to yesterday: Slightly less bearish (fewer short positions)Compared to last week: More bearish (more short positions)Conclusion: Due to the conflicting short-term and medium-term trends in trader sentiment, our trading bias for GBP/USD is mixed