GBP futures: recovery picks up pace

Pablo Piovano FXStreet

Advanced figures for GBP futures markets showed open interest declining by more than 1.1K contracts on Thursday vs. Wednesday’s final 190,152 contracts. It is worth noting that open interest retreated in 9 out of the last 10 sessions. Volume followed suit, down by more than 33.2K contracts and partially reverting the previous build.

GBP/USD door open for 1.4345

Similarly to the rest of the riskier assets, Cable has been trading with gains since Monday, gaining more than 3 cents despite declining open interest and choppy activity in volume. The up move has cleared the path for a probable test of 2018 tops near 1.4350 in case the resistance line, today at 1.4165, is cleared 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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