COT data of July 17th, 2012 - British Pound [BP]

British Pounds - Last Tuesday's close, at 1.5655, was up on the week, but still remained inside the recent range. 

Total o/i (116976) was down, but not by much, and spreads (875) were amost unchanged. Nett differences also showed very little change - Commercials +21548 (from +21648), Large Specs -7453 (from -7622), and Small Specs -14095 (from -14026.

 

Small Spec figures are still potentially the most interesting - their proportion of the total remained high, at 20.5% (previously 21.3%), with 14.5% (15.3%) of the Longs and a still high 26.6% (27.3%) of the Shorts. 

Commercials hold 56.3% (56.6%) of total Longs, and only 37.8% (38.0%) of total Shorts, while Large Specs hold 29.2% (28.1%) and 35.6% (34.6%) respectively.

Once again, the figures provide very little new guidance - Commercials have barely changed their attitude over the week. Only the short position held by Small Specs provides a hint that we should remain slightly bullish on the Pound, although not to any major extent.