COT data of May 20th 2014 - British Pound [BP]

British Pounds - Total o/i 237637, spreads 3255 (1.4%).  Closing price May 20th 1.6835

 

Nett differences:  Commercials -49791 (from -54328)  Large Specs +33090 (from +31755)  

  Small Specs +16701 (from +22573)

Proportions:   

Commercials (61.0% of total o/i) - 

50.4% of Longs (from 50.3%), 71.6% of Shorts (vs 74.2%), balance minus 21.2 (vs minus 23.9)

Large Specs (27.1% of total) -

34.1% of Longs (from 31.3%), 20.0% of Shorts (vs 17.3%), balance plus 14.1 (vs plus 14.0)

Small Specs (11.9% of total) -

15.5% of Longs (from 18.4%), 8.4% of Shorts (vs 8.5%), balance plus 7.1 (vs plus 9.9) 

 

Over the last 3 weeks, it is noticeable that Small Specs were at their longest (both outright and proportionately) as prices reached their highs - they remain quite long, so contrarians will remain unfriendly to the Pound on that basis. However, Commercials have been reducing their overall shorts while Large Specs have reduced their overall longs (although adding to them slightly in the latest week) - it appears that any downmove is likely to be limited in scope.