GBP Futures: further pullbacks on the table

Pablo Piovano FXStreet

Investors added nearly 2.2K contracts to their open interest positions on Wednesday, while volume increased the most since March 14, this time by almost 81K contracts.

GBP/USD faces downside pressure

Cable is extending the choppy trade so far today, challenging at the same time the 10-day and 21-day SMAs in the 1.2680/90 band. The likeliness of further downside remains well on the cards against the backdrop of rising open interest and volume.

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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