GBP futures: downside appears limited

Pablo Piovano FXStreet

Open interest in GBP futures markets rose by around 1.6K contracts on Monday from Friday’s final 208,466 contracts. On the flip side, volume dropped once again by around 21.7K contracts, all according to advanced figures from CME Group.

GBP/USD appears supported near 1.3100

Cable recent down move was accompanied by shrinking volume and a small build in open interest, extending the choppy performance seen in past sessions. GBP/USD is thus expected to extend the sideline theme for the time being, always vigilant on Brexit and the USD-dynamics.

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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