CME Group’s preliminary figures for GBP futures markets noted investors added around 3.7K contracts to their open interest positions on Monday, reaching the third build in a row. Volume, instead, dropped by nearly 29.5K contracts following two consecutive advances.
GBP/USD looks neutral/bullish, focused on Brexit
Cable is slowly extending its up move to the vicinity of the 1.3100 handle sustained by rising open interest, which initially allows for the continuation of the trend in the short-term. However, yesterday’s significant drop in volume adds some caution to this view.
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.