The British pound
date
|
Open Interest
|
Specs Long
|
Specs Short
|
Specs Net positions
|
change Open Interest
|
change Long
|
change Short
|
change Net Positions
|
Sentiment
|
Mar 22, 2022
|
195712
|
32753
|
69997
|
-37244
|
7389
|
311
|
8494
|
-8183
|
Bearish
|
Mar 15, 2022
|
188323
|
32442
|
61503
|
-29061
|
-57989
|
-18540
|
-2005
|
-16535
|
Bearish
|
Mar 08, 2022
|
246312
|
50982
|
63508
|
-12526
|
34443
|
3303
|
15492
|
-12189
|
Bearish
|
Mar 01, 2022
|
211869
|
47679
|
48016
|
-337
|
23426
|
5430
|
-42
|
5472
|
Weak bearish
|
Feb 22, 2022
|
188443
|
42249
|
48058
|
-5809
|
-6859
|
-7902
|
144
|
-8046
|
Bearish
|
Feb 15, 2022
|
195302
|
50151
|
47914
|
2237
|
-2646
|
5442
|
-5340
|
10782
|
Bullish
|
|
|
|
|
Total Change
|
-2236
|
-11956
|
16743
|
-28699
|
|

Figure 2: The GBP and COT positions of large speculators on a weekly chart and the GBPUSD on D1
The total net positions of speculators last week reached - 37,244 contracts, down by 8,183 contracts compared to the previous week. This change is due to the growth of long positions by 311 contracts and the growth of short positions by 8,494 contracts. This suggests bearish sentiment as the total net positions of large speculators are negative while there has been a further decline.
Open interest rose by 7,389 contracts last week. This means that the modest rise in the pound that occurred last week was supported by the volume and is therefore strong.
However, the pound's growth was not significant. In addition, a pin bar formed on the weekly chart which would suggest more of a further weakening in line with sentiment.
Long-term resistance: 1.3270 – 1.3300.
Support is near 1.3000.