British Pound

The British Pound is under pressure, ranking #6 of eight with a score of -31. Positioning is a clear headwind — speculative futures traders are heavily net-short the British Pound, among the most bearish readings in years. That adds selling pressure, though such crowded shorts can snap back quickly. The trend is negative — the score has dropped 9 points over recent weeks. On a valuation basis, it looks cheap versus its own one-year range, which may help cushion the downside from here.