GBP Futures: remains sidelined for the time being
|CME Group’s flash data for GBP futures markets showed open interest rose by almost 8.7K contracts on Tuesday, reversing the previous drop. Volume, instead, went down by around 3.9K contracts.
GBP/USD further rangebound likely
Cable remains within a consolidative theme below the 1.2200 handle amidst erratic volume and a relentless up trend in open interest. In the near term, this pattern is likely to prevail at least until some strong catalyst turns up.
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.