GBP futures: consolidative near term

Pablo Piovano FXStreet

Open interest in GBP futures markets decreased by nearly 1.3K contracts on Thursday from Wednesday’s final 209,788 contracts, according to advanced data from CME Group. Volume followed suit, down almost 18K contracs and reverting two consecutive daily builds.

GBP/USD always looking to Brexit, capped by 1.2800

Cable is poised to extend the weekly sideline theme around the 1.2800 area. Thursday’s pullback was accompanied by declining open interest and volume after briefly testing levels above that critical level. As always, the mood around the Sterling hinges on developments from the Brexit front.

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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