British Pound Price Outlook: Brexit Game Plan Targets Sterling Range

GBP/USD TRADER SENTIMENT

GBP/USD Trader Sentiment

  • A summary of IG Client Sentiment shows traders are net-long GBP/USD - the ratio stands at +1.41 (58.5% of traders are long) – weak bearish reading
  • Long positions are15.2% lower than yesterday and 0.5% higher from last week
  • Short positions are 4.8% higher than yesterday and 18.4% lower from last week
  • We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBP/USD prices may continue to fall. Traders are less net-long than yesterday but more net-long from last week and the combination of current positioning and recent changes gives us a further mixed GBP/USD trading bias from a sentiment standpoint.
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