GBP futures: dips appear shallow
|Open interest in GBP futures markets dropped by almost 3K contracts on Friday vs. Thursday’s final 202,184 contracts, according to advanced data from CME Group. In the same direction, volume contracted for the third session in a row, this time by near 11.2K contracts.
GBP/USD scope for a squeeze higher
Cable’s ongoing retracement was on the back of declining open interest and volume, leaving the door open for a potential bounce and subsequent resumption of the up move.
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.