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Abstract:Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bullish contrarian trading bias.
Number of traders net-short has increased by 3.65% from last week.SYMBOLTRADING BIASNET-LONG%NET-SHORT%CHANGE IN LONGSCHANGE IN SHORTSCHANGE IN OI
GBP/USD: In fact, traders have remained net-short since Feb 02 when GBP/USD traded near 1.22, price has moved 0.33% lower since then. The number of traders net-long is 13.70% lower than yesterday and 1.36% higher from last week, while the number of traders net-short is 22.58% higher than yesterday and 3.65% higher from last week.
Our data shows traders are now net-short GBP/USD for the first time since Feb 02, 2023 14:00 GMT when GBP/USD traded near 1.22. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bullish contrarian trading bias.
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The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.