Tools like IG client sentiment offer a unique perspective on the market's overall mood, potentially pinpointing moments where excessive bullishness or bearishness may foreshadow an impending trend change. These signals can be a valuable counterpoint to the prevailing narrative.
IG proprietary data reveals the retail crowd is betting on GBP/USD to rise, with 62.47% of clients currently maintaining net-long positions, resulting in a long-to-short ratio of 1.66 to 1. Notably, this bullish sentiment has notably strengthened in contrast to both yesterday and last week . According to IG, 51.54% of clients are bearish EUR/GBP, marking the first instance since April 24 that the retail crowd has transitioned into net sellers. The short-to-long ratio currently sits at 1.06 to 1. Notably, the number of net-shorts has seen a substantial uptick, rising by 27.14% compared to yesterday and 81.63% compared to last week. Meanwhile, bullish positioning has declined in both time frames.
If you are discouraged by trading losses, why not take a proactive step to improve your strategy? Download our guide, "Traits of Successful Traders," and access invaluable insights to assist you in avoiding common trading errors., leading to a short-to-long ratio of 1.72 to 1. The percentage of net-short traders has increased by 3.19% compared to yesterday but decreased by 16.74% from last week. Conversely, the number of those holding bullish bets is up 11.
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Source: DailyFX - 🏆 305. / 63 Read more »
Source: DailyFX - 🏆 305. / 63 Read more »