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EUR/GBP Sentiment Analysis: Peak Long Positions

Written by

Ezekiel Chew

Updated on

June 13, 2024

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EUR/GBP Sentiment Analysis: Peak Long Positions

Written by:

Last updated on:

June 13, 2024

Current Trading Sentiment for EUR/GBP

Source: dailyfx.com

Retail trader data indicates that 81.43% of traders are net-long on EUR/GBP, with the long-to-short ratio at 4.39 to 1. This level of net-long positions has not been seen since May 24, when the EUR/GBP was trading near 0.85.

The proportion of traders net-long has increased by 3.39% since yesterday and 12.21% from last week, while the net-short positions have decreased by 8.33% since yesterday and 16.46% from last week.

Contrary to the prevailing market sentiment, our analysis adopts a contrarian perspective. The high net-long positioning suggests that EUR/GBP prices might face downward pressure.

Given the increase in net-long positions both from yesterday and last week, coupled with the overall sentiment trends, we hold a stronger bearish contrarian outlook for EUR/GBP.

This analysis points to potential declines in the near future, considering the heightened long interest among traders.

About Ezekiel Chew​

Ezekiel Chew, founder and head of training at Asia Forex Mentor, is a renowned forex expert, frequently invited to speak at major industry events. Known for his deep market insights, Ezekiel is one of the top traders committed to supporting the trading community. Making six figures per trade, he also trains traders working in banks, fund management, and prop trading firms.

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EUR/GBP Sentiment Analysis: Peak Long Positions

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Written by:

Updated:

June 13, 2024

Current Trading Sentiment for EUR/GBP

Source: dailyfx.com
Retail trader data indicates that 81.43% of traders are net-long on EUR/GBP, with the long-to-short ratio at 4.39 to 1. This level of net-long positions has not been seen since May 24, when the EUR/GBP was trading near 0.85. The proportion of traders net-long has increased by 3.39% since yesterday and 12.21% from last week, while the net-short positions have decreased by 8.33% since yesterday and 16.46% from last week. Contrary to the prevailing market sentiment, our analysis adopts a contrarian perspective. The high net-long positioning suggests that EUR/GBP prices might face downward pressure. Given the increase in net-long positions both from yesterday and last week, coupled with the overall sentiment trends, we hold a stronger bearish contrarian outlook for EUR/GBP. This analysis points to potential declines in the near future, considering the heightened long interest among traders.
ezekiel chew asiaforexmentor

About Ezekiel Chew

Ezekiel Chew, founder and head of training at Asia Forex Mentor, is a renowned forex expert, frequently invited to speak at major industry events. Known for his deep market insights, Ezekiel is one of the top traders committed to supporting the trading community. Making six figures per trade, he also trains traders working in banks, fund management, and prop trading firms.

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