Investors added nearly 6.5K contracts to their open interest positions on Thursday, reaching the fourth consecutive build, according to flash data from CME Group. On the other hand, volume went down by almost 21K contracts after three straight daily increases.
GBP/USD now targets 1.2770
The leg lower in Cable has been gathering extra steam in past sessions. Thursday’s negative price action was accompanied by rising open interest, leaving the door open for the continuation of the pullback to, initially, February lows in the 1.2770 region.
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.