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Abstract:Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bearish contrarian trading bias.
Number of traders net-short has decreased by 19.21% from last week.SYMBOLTRADING BIASNET-LONG%NET-SHORT%CHANGE IN LONGSCHANGE IN SHORTSCHANGE IN OI
GBP/USD: In fact, traders have remained net-long since Jan 17 when GBP/USD traded near 1.23, price has moved 0.11% lower since then. The number of traders net-long is 5.46% higher than yesterday and 29.25% higher from last week, while the number of traders net-short is 10.87% lower than yesterday and 19.21% lower from last week.
Our data shows traders are now net-long GBP/USD for the first time since Jan 17, 2023 when GBP/USD traded near 1.23. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bearish contrarian trading bias.
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