GBP futures: rising odds for extra pullbacks

Pablo Piovano FXStreet

Open interest in GBP futures markets from CME Group saw investors adding around 7K contracts to their open interest positions on Monday, clinching the sixth build in a row. On the other hand, volume decreased by around 15.3K contracts.

GBP/USD focused on 1.2670

Cable continues its march south unabated so far this week and still targets the 1.2670 region amidst the persistent uptrend in open interest. Choppy activity in volume, however, could slow the pace of the expected downside.

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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