COT data of July 8th 2014 - British Pound [BP]

British Pounds - Total o/i 254788, spreads 2558 (1.0%).  Closing price July 8th 1.7130

 

Nett differences:  Commercials -62309 (from -75297)  Large Specs +41639 (from +56412)  Small Specs +20670 (from +18885)   

 

Proportions:    

Commercials (61.3% of total o/i) -

49.0% of Longs (from 44.2%), 73.7% of Shorts (vs 73.9%), balance minus 24.7 (vs minus 29.7)

Large Specs (26.1% of total) -

34.3% of Longs (from 39.4%), 17.8% of Shorts (vs 17.2%), balance plus 16.5 (vs plus 22.2)

Small Specs (12.6% of total) -

16.7% of Longs (from 16.4%), 8.5% of Shorts (vs 8.9%), balance plus 8.2 (vs plus 7.5) 

 

Commercials added to longs considerably, and reduced shorts (although not by much, proportionately); Large Specs on the other hand reduced longs, while also leaving shorts not much changed. Small  Specs added to longs and reduced shorts. Seems like Commercials may be giving up on their long-term bear view.