COT data of Feb 11th 2014 - British Pound [BP]

British Pounds - Total o/i  204982; spreads 4363 (2.1%).  Closing price on Feb 11th 1.6450

Nett differences:
Commercials -23104 (from -20876)  Large Specs +10672 (from +10951)  Small Specs +12432 (from +9925) 

 
Proportions:

Commercials (63.3% of total o/i) - 57.6% of Longs, 69.1% of Shorts, balance minus 11.5

Large Specs (23.9% of total) - 26.5% of Longs, 21.2% of Shorts, balance plus 5.3
Small Specs (12.8% of total) - 15.9% of Longs, 9.7% of Shorts, balance plus 6.2

 

Although some changes do show in the 'nett' positions (with Commercials going shorter and Small Specs going longer), this is only barely confirmed by the changes in the 'proportionate' positions. Nevertheless, the inference must be that Commercials are taking some of their profits, and Small Specs are taking their losses. With values having moved all the way up to around 1.6700 in the period since the COT figures were taken, we assume that this process continued, suggesting that the upmove may not have much further to go.