GBP Futures: Further gains on the cards

Pablo Piovano FXStreet

CME Group’s flash data for GBP futures markets noted investors scaled back their open interest positions for the second session in a row on Monday, this time by almost 3K contracts. In the same direction, volume reversed two builds in a row and went down by around 5.8K contracts.

GBP/USD could attempt a move to 1.2500

Cable’s negative performance on Monday was accompanied by decreasing open interest and volume, signalling a limited downside and the probability of a rebound to, initially, the 1.2500 region.

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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