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EUR/GBP Sentiment Analysis: Traders Turn Net-Long for the First Time Since Early August

Written by

Ezekiel Chew

Updated on

August 16, 2024

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EUR/GBP Sentiment Analysis: Traders Turn Net-Long for the First Time Since Early August

Written by:

Ezekiel Chew

Last updated on:

August 16, 2024

Retail trader data reveals that 50.94% of traders are currently net-long on EUR/GBP, with a long-to-short ratio of 1.04 to 1. This marks the first time traders have been net-long since August 5, when EUR/GBP was trading near 0.86. Since that date, the pair has declined by 0.69%. Notably, the number of traders holding net-long positions has increased by 18.93% since yesterday and by 40.80% over the past week. Conversely, the number of net-short traders has decreased by 19.45% since yesterday and by 30.38% compared to last week.

EUR/GBP Sentiment Analysis as of August 16th, 2024 (Source: DailyFX)

Analysts often adopt a contrarian stance to crowd sentiment, which means the fact that traders are net-long suggests that EUR/GBP prices may continue to decline.

Data indicates that traders are net-long on EUR/GBP for the first time since early August, when the pair traded near 0.86. With traders more net-long compared to yesterday and last week, the current sentiment and recent shifts reinforce a stronger EUR/GBP-bearish contrarian outlook.

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: Traders Turn Net-Long for the First Time Since Early August

4.0
Overall Trust Index

Written by:

Updated:

August 16, 2024
Retail trader data reveals that 50.94% of traders are currently net-long on EUR/GBP, with a long-to-short ratio of 1.04 to 1. This marks the first time traders have been net-long since August 5, when EUR/GBP was trading near 0.86. Since that date, the pair has declined by 0.69%. Notably, the number of traders holding net-long positions has increased by 18.93% since yesterday and by 40.80% over the past week. Conversely, the number of net-short traders has decreased by 19.45% since yesterday and by 30.38% compared to last week.
EUR/GBP Sentiment Analysis as of August 16th, 2024 (Source: DailyFX)
Analysts often adopt a contrarian stance to crowd sentiment, which means the fact that traders are net-long suggests that EUR/GBP prices may continue to decline. Data indicates that traders are net-long on EUR/GBP for the first time since early August, when the pair traded near 0.86. With traders more net-long compared to yesterday and last week, the current sentiment and recent shifts reinforce a stronger EUR/GBP-bearish contrarian outlook.
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.

RELATED ARTICLES

EUR/GBP Sentiment Analysis: Traders Turn Net-Long for the First Time Since Early August

4.0
Overall Trust Index

Written by:

Updated:

August 16, 2024
Retail trader data reveals that 50.94% of traders are currently net-long on EUR/GBP, with a long-to-short ratio of 1.04 to 1. This marks the first time traders have been net-long since August 5, when EUR/GBP was trading near 0.86. Since that date, the pair has declined by 0.69%. Notably, the number of traders holding net-long positions has increased by 18.93% since yesterday and by 40.80% over the past week. Conversely, the number of net-short traders has decreased by 19.45% since yesterday and by 30.38% compared to last week.
EUR/GBP Sentiment Analysis as of August 16th, 2024 (Source: DailyFX)
Analysts often adopt a contrarian stance to crowd sentiment, which means the fact that traders are net-long suggests that EUR/GBP prices may continue to decline. Data indicates that traders are net-long on EUR/GBP for the first time since early August, when the pair traded near 0.86. With traders more net-long compared to yesterday and last week, the current sentiment and recent shifts reinforce a stronger EUR/GBP-bearish contrarian outlook.
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.

RELATED ARTICLES

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