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Reflections #38 - CFTC data show a further squeeze of SPX shorts, specs go record long GBP

Large specs continued to reduce short positions in SPX futures and are back to the average short position of the last 12 months.

Positioning now looks less of a hurdle for a correction than a few weeks back.

Also noteworthy, positioning in GBP longs have jumped to highest in the last 5 years on the back of BoE rate hike speculation.


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