FX.co ★ Speculators Scale Back Bearish Bets on Sterling as Net Short Positions Narrow

The latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC) shows that speculative traders have reduced their net short positions on the British pound, signaling a modest improvement in sentiment toward the currency.

As of the updated data on 15 May 2026, GBP speculative net positions stood at -43.1K, compared with a previous reading of -63.9K. While positioning remains in negative territory, the smaller net short suggests that some traders are unwinding bearish bets or cautiously re-entering long exposure to sterling.

The shift may reflect changing expectations around the UK’s economic outlook or interest rate path, with market participants reassessing the balance of risks for the pound. Investors will now watch upcoming economic releases and central bank signals closely to see whether this trend toward reduced bearishness on GBP continues.