EUR/GBP: Retail trader data shows 51.31% of traders are net-long with the ratio of traders long to short at 1.05 to 1. In fact, traders have remained net-long since Sep 29 when EUR/GBP traded near 0.87, price has moved 0.25% lower since then. The number of traders net-long is 12.46% higher than yesterday and 0.89% lower from last week, while the number of traders net-short is 1.86% lower than yesterday and 10.45% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/GBP prices may continue to fall.

Our data shows traders are now net-long EUR/GBP for the first time since Sep 29, 2023 when EUR/GBP traded near 0.87. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/GBP-bearish contrarian trading bias.

https://www.dailyfx.com/analysis/EURGBP-IG-Client-Sentiment-202310091523.html