CFTC Commitment of Traders: GBP shorts trimmed a little but remain near record levels.

Forex futures net speculative positions as of the close of business on Tuesday April 4, 2017
– EUR short 11K vs 8K short last week. Shorts increase by 3K
– GBP short 100K vs 104K short last week. Shorts trimmed by 4K
GBP shorts were trimmed but only by 4K to 100K short. The high water mark (and record short) was 108K a few weeks ago.  Only 8K has been trimmed as speculative positions (a proxy for the market) remain heavily positioned for a fall.   This week, the shorts have been rewarded. The high on Monday reached 1.2552. The current price is down at 1.2374.