GBP futures: diminishing odds for further decline
|In light of advanced data from CME Group for GBP futures, open interest dropped by more than 2K contracts on Monday vs. Friday’s 179,999 contracts. In the same direction, volume decreased by more than 50.6K contracts, recording the second consecutive drop at the same time.
GBP/USD appears capped near 1.3200
Cable’s recent uptick has been amidst diminishing open interest and volume, removing some tailwinds from the potential re-test of the key barrier at 1.3200 the figure.
As usual, Brexit concerns remain poised to drive the sentiment around the Sterling in the months to come, while the BoE is expected to keep the monetary status quo unchanged at least to mid-2018.
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.