FX.co ★ Speculators bearish on GBP as CFTC data shows net positions drop sharply

According to the latest Commodity Futures Trading Commission (CFTC) report, speculative net positions for the British Pound (GBP) in the United Kingdom have taken a bearish turn. The data, updated on 26 April 2024, reveals a significant decline in net positions. The previous indicator showed a positive figure of 8.6K, indicating bullish sentiment. However, the most recent data paints a starkly different picture with net positions plummeting to -26.2K, signaling a notable shift towards bearish sentiment among speculators towards the GBP. This steep drop in net positions suggests growing concerns and potential downside risks associated with the British currency in the financial markets.