COT data of June 11th 2013 - British Pound [BP]

British Pounds - Total o/i  219176; spreads 21274 - around 9.7% of the total. Either the figures are wrong, or the switch of months is creating mayhem (although last quarter, in mid-March, the figure also jumped - albeit only from 2.0% to 6.1%) - either way, we prefer to draw no conclusions.

Nett differences:

Commercials +66046 (from +101828).  Large Specs -53687 (from -77738).  Small Specs -12359 (from -24090).

Proportions:  

Commercials (56.0% of total o/i) - 72.6% of Longs, 39.3% of Shorts, balance plus 33.3

Large Specs (30.1% of total) - 16.6% of Longs, 43.7% of Shorts, balance minus 27.1

Small Specs (13.9% of total) - 10.8% of Longs, 17.0% of Shorts, balance minus 6.2

Even though the switch to June as the spot month may be confusing, the figures appear to show that Commercials believe the recent advance has run its course. We shall be looking for signals to sell 
rather than to buy.