GBP futures: diminished odds for further decline
|According to CME Group’s flash data, open interest in GBP futures rose by a meagre 91 contracts on Thursday vs. Wednesday’s final 208,134 contracts, recording the third consecutive increase at the same time. Furthermore, Volume decreased by more than 19K contracts.
GBP/USD faces some consolidation near term
Price action around Cable keeps showing some reluctance to break below recent lows in the mid-1.2900s for the time being, while the decline in open interest stays far from significant so far.
All in all, spot remains directionless in the near term, probably waiting for a stronger catalyst either from the domestic front (UK politics, Brexit) or overseas (USD-dynamics, CPI).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.