Open interest in GBP futures markets increased for the third session in a row yesterday, this time by almost 6.8K contracts, according to preliminary figures from CME Group. In the same direction, volume also went up for yet another session by more than 15K contracts.
GBP/USD now looks to 1.2770
Cable’s sharp sell off appears to have found some contention in the 1.2830 region on Wednesday. However, rising open interest and volume leaves the door open for the continuation of the down move with immediate target at 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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.