GBP Futures: Further losses look likely

CME Group’s advanced data for GBP futures markets noted open interest increased for the fourth consecutive session on Thursday, this time by nearly 1.7K contracts. Volume, too, went up for the second straight session, now by almost 49K contracts.

GBP/USD breaks below the 200-day SMA

Cable breached the critical 200-day SMA on Thursday in tandem with increasing open interest and volume. That said, further losses are now likely, with no relevant support levels until October lows in the 1.2200 neighbourhood.

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