GBP:<\/strong> British pound sterling spec positions continued to decline last week for an eighth consecutive week and fell to their lowest standing since October 2011. British pound speculative positions decreased to a total of -49,800 net contracts on March 12th following a total of -43,849 net contracts that were reported on March 5th. This was a weekly change of -5,951 large trader contracts.<\/p>\n Pound speculator positions have now been in a bearish position for five straight weeks since crossing over on February 5th and are at the lowest level since October 25th 2011 when positions equaled -50,147 contracts.<\/p>\n March 12th 2013 Cot Report Data<\/strong><\/p>\n Total Open Interest: 297,130 <\/p>\n The Commitment of Traders report is published every Friday by the Commodity Futures Trading Commission (CFTC) and shows futures positions data that was reported as of the previous Tuesday (3 days behind).<\/p>\n Each currency contract is a quote for that currency directly against the U.S. dollar, a net short amount of contracts means that more speculators are betting that currency to fall against the dollar and a net long position expect that currency to rise versus the dollar.<\/p>\n (The graphs overlay the forex spot closing price of each Tuesday when COT trader positions are reported for each corresponding spot currency pair.)<\/p>\n See more information and explanation on the weekly COT report from the CFTC website<\/a>.<\/p>\n <\/p>\n![\"gbp\"](\"http:\/\/countingpips.com\/fx\/wp-content\/uploads\/2013\/03\/gbp2.gif\")
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\nNon-Commerical Large Traders Net Positions: -49,800
\nCommercial Traders Net Positions: +82,484
\nSmall Traders Net Positions: -32,684<\/p>\n
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