Present GBP/USD Dealer Sentiment Evaluation
Latest retail dealer knowledge reveals that 50.21% of merchants at the moment are net-long on GBP/USD, showcasing a balanced ratio of lengthy to brief positions at 1.01 to 1. This shift in direction of a net-long positioning has been constant since March 1, 2024, when GBP/USD hovered round 1.26, with the pair seeing a 0.81% uptick since. Notably, the proportion of merchants net-long has surged by 11.27% in comparison with yesterday and 48.36% from the earlier week. Conversely, the variety of merchants net-short has diminished by 16.13% since yesterday and 24.98% from final week.
Given the prevailing sentiment, our contrarian viewpoint suggests a possible downward trajectory for GBP/USD costs, as the present net-long bias might point out future declines.
Sentiment Shift Signifies Potential GBP/USD Value Actions
For the primary time since March 1, 2024, when the foreign money pair was priced close to 1.26, our knowledge factors to a major sentiment shift with merchants now predominantly net-long on GBP/USD. This elevated net-long stance, each from yesterday and final week, paired with the noticed sentiment traits, amplifies our GBP/USD-bearish contrarian perspective. The evaluation underscores a stronger indication that GBP/USD could face downward stress, aligning with our contrarian buying and selling bias.
The submit GBP/USD Sentiment Shift: Merchants Web-Lengthy as Pair Eyes Motion appeared first on Dumb Little Man.
