Home GBP futures: scope for a deeper drop

GBP futures: scope for a deeper drop

Published date: 28 Jun. 2018 | 11:42

CME Group’s flash data for GBP futures noted investors added around 7.3K contracts to their open interest positions on Wednesday vs. Tuesday’s final 169,623 contracts. Volume followed suit, up once again and this time by nearly 29.5K contracts.

GBP/USD attention shifted to 1.3040

The down move in Cable has been in tandem with rising open interest and volume, which leaves the pair vulnerable to a continuation of the correction lower to the 1.3040/35 band, where sit November’s lows.

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