Sterling prices are softer this week after testing downtrend resistance on Tuesday and although the risk remains for a deeper drive from here, the bears aren’t quite in control just yet.
Sentiment
Long positions are3.8% higher than yesterday and 4.2% higher from last week
Short positions are 9.1% lower than yesterday and 5.2% lower from last week
The fact traders are net-long suggests GBP/USD prices may continue to fall.
Traders are further net-long than yesterday & last week, and the combination of current positioning and recent changes gives us a stronger GBP/USD-bearish contrarian trading bias from a sentiment standpoint.
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Sentiment
Long positions are3.8% higher than yesterday and 4.2% higher from last week
Short positions are 9.1% lower than yesterday and 5.2% lower from last week
The fact traders are net-long suggests GBP/USD prices may continue to fall.
Traders are further net-long than yesterday & last week, and the combination of current positioning and recent changes gives us a stronger GBP/USD-bearish contrarian trading bias from a sentiment standpoint.
Please Like or Follow :)