GBP futures: Extra losses stay on the cards
|Open interest in GBP futures markets rose for the seventh session in a row on Tuesday, this time by around 4.7K contracts, according to advanced figures for CME Group. In the same line, volume posted the largest single day build since March 29, all amidst the broader erratic performance.
GBP/USD focused on 1.2670
Cable’s downside remains unabated around the 1.2700 handle so far. Rising volume and open interest amidst declining prices carry the potential to drag GBP/USD lower with the immediate target at the 1.2670 region, mid-January lows.
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.