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GBP Coming off the Rails but Beware another Record Short Position

GBP Coming off the Rails but Beware another Record Short Position

2016-08-15 18:26:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:
  • Record British Pound ownership profile…again
  • Small MXN traders on verge of a net long position
  • Silver speculators sell 2nd week

19th century cotton speculator Dickson Watts said 'go cautiously with the crowd and boldly against'. Those words are appropriate given the record speculative short position in the British Pound.

For more analysis and trade setups, visit SB Trade Desk

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The COT Index is the difference between net speculative positioning and net commercial positioning measured. A blue colored bar indicates that the difference in positioning is the greatest it has been in 52 weeks (bullish) with speculators selling and commercials buying. A red colored bar indicates that the difference in positioning is the greatest it has been in 52 weeks (bearish) with speculators buying and commercials selling. Non-commercials tend to be on the wrong side at the turn and commercials the correct side. Use of the index is covered closely in detail in my book.

Latest CFTC Release dated August 9, 2016

Week (Data for Tuesdays)

52 week Percentile

US Dollar

29

Euro

33

British Pound

0

Australian Dollar

90

Japanese Yen

65

Canadian Dollar

77

Swiss Franc

55

Mexican Peso

43

Gold

88

Silver

94

Copper

84

Crude

57

Charts (all charts are continuous contract)

Non Commercials (speculators) – Red

Commercials – Blue

Small Speculators – Black

COTDiff (COT Index) – Black

US Dollar ICEUS Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

Euro CME Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

British Pound CME Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

Australian DollarCME Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

Japanese YenCME Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

Canadian DollarCME Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

Swiss Franc CME Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

Mexican Peso CME Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

Gold COMEX Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

Silver COMEX Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

Copper COMEX Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

Crude Oil NYMEX Continuous Contract

GBP Coming off the Rails but Beware another Record Short Position

Chart prepared by Jamie Saettele, CMT

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter for real time updates @JamieSaettele

Jamie is the author of Sentiment in the Forex Market and co-founder of SB Trade Desk.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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