CME Group’s advanced data for GBP futures markets noted open interest shrunk for the second session in a row on Tuesday, this time by nearly 1.5K contracts. On the other hand, volume reversed three consecutive drops and gained around 26.2K contracts.
GBP/USD remains well supported near 1.2500
Cable continues to grind lower so far this week. Yesterday’s negative price action was in tandem with shrinking open interest, which should remove some tailwinds from the le leg lower. Higher volume, by contrast, keeps favouring a test of lower levels.
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.