EUR/GBP IG Client Sentiment: Our data shows traders are now net-long EUR/GBP for the first time since Sep 21, 2023 10:00 GMT when EUR/GBP traded near 0.87.

EUR/GBP: Retail trader data shows 50.15% of traders are net-long with the ratio of traders long to short at 1.01 to 1. In fact, traders have remained net-long since Sep 21 when EUR/GBP traded near 0.87, price has moved 0.20% lower since then. The number of traders net-long is 1.22% higher than yesterday and 9.21% higher from last week, while the number of traders net-short is 13.39% lower than yesterday and 7.82% 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 21, 2023 10:00 GMT 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.