FX.co ★ Sterling Bears Trim Bets as CFTC Data Show Slight Uptick in GBP Net Positions

Speculative sentiment toward the British pound has improved marginally, according to the latest Commitments of Traders data published by the U.S. Commodity Futures Trading Commission (CFTC). As of 21 August 2026, GBP speculative net positions stood at -54.6K, compared with -56.2K previously.

While positioning remains net short, the small narrowing in bearish bets suggests some traders are cautiously scaling back expectations of further pound weakness. The shift may reflect subtle adjustments in market views on UK economic prospects, interest rate paths, or relative performance against other major currencies, though net positions still indicate an overall negative stance toward sterling.

Investors will now watch upcoming UK economic releases and central bank communications to see whether this modest improvement in sentiment develops into a more sustained repositioning in GBP futures, or proves to be a temporary pause in broader bearish momentum.