GBP futures: extra rangebound likely

In light of advanced figures for GBP futures markets from CME Group, investors added around 1.5K contracts to their open interest positions on Wednesday from Tuesday’s final 178,633 contracts. Volume, instead, dropped by 26K contracts, recording at the same time the second consecutive decrease.

GBP/USD still supported around 1.3200

Cable’s weekly leg lower has been on the back of shrinking volume and erratic activity in open interest, allowing for an extension of the current consolidation scheme and always paying close attention to the Brexit negotiations and headlines from PM May’s government.

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 securities. 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 Forex 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.