GBP futures: bearish move building up?

Pablo Piovano FXStreet

Tuesday’s advanced figures for open interest in GBP futures markets tracked by CEM Group showed contracts rose by more than 1.2K vs. Monday’s final readings, indicating the first increase after four consecutive drops.

Cable faces downside risks

Open interest in GBP rose for the first time after four consecutive sessions with decreasing contracts, opening the door for further pullbacks in light of the persistent offered bias in spot, which is now retreating for the fourth session in a row after last week’s tops just below 1.2900 the figure.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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