GBP/USD Preparing on Breakout or going back in range ?
Retail trader data shows 54.5% of traders are net-long with the ratio of traders long to short at 1.2 to 1. The number of traders net-long is 16.6% higher than yesterday and 6.8% higher from last week, while the number of traders net-short is 1.3% lower than yesterday and 21.9% higher from last week.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBPUSD prices may continue to fall. Positioning is more net-long than yesterday but less net-long from last week. The combination of current sentiment and recent changes gives us a further mixed GBPUSD trading bias.
Always wait that candle close on timeframe which you are looking.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBPUSD prices may continue to fall. Positioning is more net-long than yesterday but less net-long from last week. The combination of current sentiment and recent changes gives us a further mixed GBPUSD trading bias.
Always wait that candle close on timeframe which you are looking.
Comment:
Nice breakout in direction of up trend and also nice profit.