GBP futures: downside appears limited
|In light of advanced data for GBP futures markets from CME Group, investors scaled back their open interest positions by almost 1.8K contracts on Thursday from Wednesday’s final 180,054 contracts. In the same line, volume dropped by more than 88K contracts.
GBP/USD now looks to 1.3040
Cable continues its march south after breaking below the key support at 1.3200 the figure. The attention has now rotated to the critical 1.3040 area, although the recent decrease in open interest and volume could remove some tailwinds from the downside.
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.