The outlook for GBP/USD and EUR/GBP looks mixed ahead of Thursday’s UK general election
IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 78.24%, while traders in EUR/JPY are...retail trader data indicates a net-long position of 43.40%, with a short-to-long ratio of 1.30 to 1. Net-long traders have decreased by 18.07% since yesterday and 0.62% from last week. Conversely, net-short traders have increased by 23.53% since yesterday but declined by 2.02% from last week.
Our analysis typically adopts a contrarian stance to crowd sentiment. The current net-short position suggests a potential continued rise in GBP/. The positioning is more net-short than yesterday but less net-short compared to last week. This combination of current sentiment and recent shifts results in a mixed GBP/USD trading outlookretail trader data indicates a net-long position of 62.78%, with a long-to-short ratio of 1.69 to 1. Net-long traders have increased by 3.
The positioning is more net-long than yesterday but less net-long compared to last week. This combination of current sentiment and recent shifts results in a mixed EUR/GBP trading outlook.– bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via TwitterFTSE 100 IG Client Sentiment: Our data shows traders are now net-long FTSE 100 for the first time since Mar 11, 2024 when FTSE 100 traded near 7,700.90.
We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. Information presented by DailyFX Limited should be construed as market commentary, merely observing economical, political and market conditions. This information is made available for informational purposes only. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice.
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