Retail trader data shows that 48.74% of traders are net-long on EUR/GBP, with a short-to-long trader ratio of 1.05 to 1. Since May 15, when EUR/GBP was near 0.86, traders have been net-short, and the price has risen by 0.01% since then. The number of net-long traders has decreased by 20.22% from yesterday and 49.88% from last week, while the number of net-short traders has increased by 4.67% from yesterday and 29.48% from last week.
We usually take a contrarian view to crowd sentiment, and the fact that traders are net-short suggests that EUR/GBP prices may continue to rise.
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