GBP Futures: further upside looks likely
|CME Group’s flash figures for GBP futures markets showed investors added nearly 2.2K contracts to their open interest positions on Friday, recording the second build in a row. In the same line, volume rose once again, this time by around 20.6K contracts.
GBP/USD still eyes a test of 1.30
Cable appears consolidative in the upper end of the range above the 1.2900 handle so far. Increasing open interest and volume amidst positive price action hints at the likeliness that further gains remain on the cards, with the initial target still at the psychological 1.30 mark.
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.