In light of advanced data from CME Group, traders added nearly 400 contracts to their open interest positions on Thursday from Wednesday’s 182,812 contracts. In addition, volume ticked higher by 85,180 contracts, reverting the previous sharp decline.
GBP/USD now targets 1.3350
Cable has been advancing since Monday, gaining around 3 cents since Friday’s lows in the 1.3030 region amidst renewed USD weakness and mixed signals from the ongoing Brexit negotiations.
The up move has been accompanied by rising open interest while volume increased significantly, reinforcing the idea that further upside could be in the pipeline.
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.