In short
Speculators are net long GBP (building long over 12 weeks). Positioning sits at 31% of its 12-week range (flip 32th pct of 10y, z -0.59).
Weekly net positioning
Net non-commercial (large speculator) positioning over the last 12 weeks. A rising net means speculators are building longs; a falling net means they are building shorts.
| Week (Tuesday) | Net position | Week-over-week | Open interest |
|---|---|---|---|
| Jun 9, 2026 | +22,312 | -5,041 | 291,371 |
| Jun 2, 2026 | +27,353 | -1,476 | 271,147 |
| May 26, 2026 | +28,829 | -2,540 | 282,065 |
| May 19, 2026 | +31,369 | -5,933 | 285,647 |
| May 12, 2026 | +37,302 | +11,253 | 283,643 |
| May 5, 2026 | +26,049 | -2,833 | 276,143 |
| Apr 28, 2026 | +28,882 | -255 | 263,635 |
| Apr 21, 2026 | +29,137 | +6,806 | 263,523 |
| Apr 14, 2026 | +22,331 | -4,202 | 250,053 |
| Apr 7, 2026 | +26,533 | -3,399 | 244,191 |
| Mar 31, 2026 | +29,932 | +14,216 | 243,461 |
| Mar 24, 2026 | +15,716 | — | 238,862 |
How to read this
The flip percentile normalizes British Pound net positioning against roughly ten years of history: 32.3% means speculators are leaning short versus their own history. The 10-year z-score (-0.59) confirms how stretched that is. Readings above the 90th percentile (or below the 10th) flag a crowded trade prone to a sharp unwind.
Positioning is a risk gauge, not an entry signal. Extremes can persist and get more extreme. Pair this with the fundamentals and a confirming move before fading a crowded trade. See how to read the COT report and using COT data to spot reversals.
Frequently asked questions
- Are speculators net long or short British Pound?
- As of Jun 9, 2026, large speculators are net long the pound, with a net position of +22,312 contracts (58,647 long vs 36,335 short) in the CFTC Commitments of Traders report.
- Is British Pound positioning crowded right now?
- No. British Pound positioning sits at the 32.3% flip percentile of its 10-year range (z-score -0.59), which is not an extreme. Crowding warnings trigger above the 90th or below the 10th percentile.
- What is the COT flip percentile for British Pound?
- British Pound's flip percentile is 32.3% — where current normalized net positioning sits within roughly 10 years of history. Above 60 is long-side versus history, below 40 short-side; above 90 or below 10 is crowded.
- When is COT data for British Pound updated?
- Weekly. The CFTC releases the Commitments of Traders report every Friday at 3:30pm ET with positions as of the prior Tuesday. This page last updated with data as of Jun 9, 2026.