GBP/USD COT positioning
Leveraged funds are net long 26,663 contracts in GBP/USD futures as of Nov 3, 2026, with positioning at 57 of 100 within its 52-week range. From the weekly CFTC Commitments of Traders report.
Positions as of Tue, Nov 3, 2026 · published Fri, Nov 6, 2026 · Source: CFTC
Leveraged funds added to their long position over the past week. That leaves positioning at 57 on a 0–100 scale between its 52-week low and high — with room to move before it reaches an extreme.
WAVG reads this the same way every week across every market, names the factors behind the bias, and flags when positioning reaches the edge of its 52-week range.
What moves GBP/USD positioning
Sterling positioning is driven by the Bank of England versus the Fed and by the UK's own growth and political headlines, which can move the pound faster than fundamentals alone would justify. Leveraged funds dominate the speculative swings.
Because the UK is a smaller, more open economy, sterling also trades as a risk-sensitive currency — it tends to strengthen when global risk appetite is high and fall when it sours. Extreme fund positioning around a Bank of England decision is where the sharpest reversals cluster.
This week's report
| Trader group | Long | Short | Net |
|---|---|---|---|
| Leveraged funds | 63,342 | 36,679 | +26,663 |
| Asset managers | 22,698 | 143,861 | −121,163 |
| Dealers | 117,237 | 14,044 | +103,193 |
Contracts held long, short and net as of Nov 3, 2026 (published Nov 6, 2026). Source: CFTC.
The last 13 weeks
| Week ending | Leveraged funds net | Change | Index (52w) |
|---|---|---|---|
| Aug 11, 2026 | +40,670 | +2,496 | 94 |
| Aug 18, 2026 | +42,877 | +2,207 | 99 |
| Aug 25, 2026 | +47,909 | +5,032 | 100 |
| Sep 1, 2026 | +43,167 | −4,742 | 90 |
| Sep 8, 2026 | +34,627 | −8,540 | 73 |
| Sep 15, 2026 | +18,878 | −15,749 | 41 |
| Sep 22, 2026 | +13,239 | −5,639 | 30 |
| Sep 29, 2026 | +4,606 | −8,633 | 12 |
| Oct 6, 2026 | +12,432 | +7,826 | 28 |
| Oct 13, 2026 | +10,313 | −2,119 | 24 |
| Oct 20, 2026 | +24,104 | +13,791 | 52 |
| Oct 27, 2026 | +17,195 | −6,909 | 38 |
| Nov 3, 2026 | +26,663 | +9,468 | 57 |
Net position of leveraged funds at each weekly reporting date, the change from the week before, and the COT index for that week. The index compares a week against this market’s own 52-week range: 0 is the low end of that range, 100 the high end — a high reading is not the same as a long position. Source: CFTC.
Track GBP/USD positioning with WAVG
Follow weekly GBP/USD COT positioning with charts, Smart-money VWAP, economic calendar & alerts, and macro news.