GBP Futures: Rising odds for extra pullbacks

Pablo Piovano FXStreet

CME Group’s advanced data for GBP futures markets showed investors added nearly 22.8K contracts to their open interest positions on Thursday, reversing the previous drop. In the same line, volume went up by the second straight session, now by almost 6.5K contracts.

GBP/USD eyes another test of 1.1400 and below

Cable’s negative price action on Thursday was on the back of rising open interest and volume, allowing for the continuation of the downtrend to the recent lows in the 1.1400 neighbourhood.

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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