Iam waiting on breakout below blue line or that price will go back in range.
Retail trader data shows 54.0% of traders are net-long with the ratio of traders long to short at 1.17 to 1. The number of traders net-long is 7.6% higher than yesterday and 13.7% lower from last week, while the number of traders net-short is 17.2% lower than yesterday and 14.5% lower from last week.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EURGBP prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EURGBP-bearish contrarian trading bias.
Retail trader data shows 54.0% of traders are net-long with the ratio of traders long to short at 1.17 to 1. The number of traders net-long is 7.6% higher than yesterday and 13.7% lower from last week, while the number of traders net-short is 17.2% lower than yesterday and 14.5% lower from last week.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EURGBP prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EURGBP-bearish contrarian trading bias.