GBP futures: near term upside corrective

Pablo Piovano FXStreet

CME Group’s advanced figures for GBP futures markets noted investors added nearly 28K contracts on Tuesday from Monday’s final 251,853 contracts, the first build after 4 consecutive drops. Volume, instead, dropped marginally by just 69 contracts.

GBP/USD room for a squeeze higher

Cable doji-like candle on Tuesday was accompanied by the largest daily build in open interest so far this year and irrelevant figures in volume. The Sterling remains sidelined for the time being although a bullish attempt to the 1.3100 region should not be ruled out in the near term.

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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