GBP futures: up move looks exhausted

Pablo Piovano FXStreet

In light of CME Group’s advanced data for GBP futures markets, investors scaled back their open interest positions by around 1K contracts on Friday vs. Thursday’s final 214,787 contracts. In the same line, volume dropped by nearly 12.1K contracts.

GBP/USD faces key week, 1.30 caps the upside

The recent up move in Cable was in tandem with declining open interest and volume, hinting at the likelihood that extra gains could lose some momentum in the next sessions. In the meantime, Brexit negotiations face a key day as PM T.May is expected to deliver a ‘Plan B’.

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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