GBP Futures: potential consolidation lies ahead
|Open interest in GBP futures markets rose by just 525 contracts on Monday, extending the erratic performance. On the other hand, volume dropped once again now by around 21.5K contracts, all according flash data from CME Group.
GBP/USD still holding on above 1.20
Cable has faded part of last week’s recovery and is now grinding lower amidst choppy activity in open interest and declining volume. Further rangebound now appears on the cards, while the case for a test of 1.20 and below remains well in place for the time being.
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.