FX.co ★ Sterling Bears Retreat as CFTC Data Shows Short Positions Narrowing

Speculative bearish bets on the British pound have eased, according to the latest Commitments of Traders (CFTC) data released on 06 November 2026. Net speculative positions in GBP improved from -79.4K to -59.8K, indicating a notable reduction in the scale of short interest against the UK currency.

While positioning remains net short overall, the move toward less negative territory suggests some traders are paring back expectations of further sterling weakness. The shift may reflect changing views on the UK’s economic outlook, interest-rate path, or relative performance against major peers, prompting speculators to trim extreme bearish exposures.

Market participants will now watch whether this moderation in short positioning marks the start of a more sustained reassessment of the pound, or simply a tactical adjustment after a period of heavy selling pressure.