GBP Futures: Pullbacks lose traction
|CME Group’s preliminary readings for GBP futures markets noted investors added just 172 contracts to their open interest positions on Thursday. On the flip side, volume dropped for the second session in a row, this time by nearly 5.5K contracts.
GBP/USD looks cautious
Cable’s daily pullback on Thursday was accompanied by a marginal uptick in open interest while volume descended for yet another session. That said, the likeliness of extra losses looks thin, while the recent area of YTD lows in the mid-1.2800s emerges as a solid support 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.