EUR/GBP Market Analysis: Net long position is the highest in nearly a month
IG retail trader data shows that 81.43% of traders are net bullish, with a long short ratio of 4.39 to 1.
The number of net short traders in EUR/GBP decreased by 16.46% compared to last week.
IG retail trader data shows that 81.43% of traders are net bullish, with a long short ratio of 4.39 to 1.
Data shows that since the EUR/GBP trading approached 0.85 on May 24th, traders are currently in the period with the highest net long positions in EUR/GBP. The net long position of traders increased by 3.39% compared to yesterday and 12.21% compared to last week, while the net short position of traders decreased by 8.33% compared to yesterday and 16.46% compared to last week.
The fact that traders are net bullish suggests that the EUR/GBP price may continue to decline.
Traders have made further net gains compared to last week, and the combination of current sentiment and recent changes has brought a stronger bearish reverse trading preference for the EUR/GBP in the market.
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