FX.co ★ Speculators Trim Net Short Bets on Sterling as CFTC Data Show Modest Shift

Speculative positioning in the British pound has turned slightly less bearish, according to the latest figures on GBP futures from the U.S. Commodity Futures Trading Commission (CFTC). Data updated on 06 February 2026 show that net speculative positions in the pound improved to -13.9K contracts, compared with -16.2K previously.

The move indicates that while traders remain net short on sterling, some bearish bets have been pared back. A reduction in net short positions can signal easing pessimism toward the currency, potentially reflecting shifting expectations around the U.K. economic outlook or future monetary policy moves by the Bank of England. Market participants will be watching upcoming data and central bank communications for further clues on whether this trend toward reduced negativity on the pound will continue.