GBP/USD Analysis
Sterling prices are softer this week after testing downtrend resistance on Tuesday and although the risk remains for a deeper drive from here, the bears aren’t quite in control just yet.
Sentiment
Long positions are3.8% higher than yesterday and 4.2% higher from last week
Short positions are 9.1% lower than yesterday and 5.2% lower from last week
The fact traders are net-long suggests GBP/USD prices may continue to fall.
Traders are further net-long than yesterday & last week, and the combination of current positioning and recent changes gives us a stronger GBP/USD-bearish contrarian trading bias from a sentiment standpoint.
Please Like or Follow :)
Sentiment
Long positions are3.8% higher than yesterday and 4.2% higher from last week
Short positions are 9.1% lower than yesterday and 5.2% lower from last week
The fact traders are net-long suggests GBP/USD prices may continue to fall.
Traders are further net-long than yesterday & last week, and the combination of current positioning and recent changes gives us a stronger GBP/USD-bearish contrarian trading bias from a sentiment standpoint.
Please Like or Follow :)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.