Home GBP Futures: further upside looks limited

GBP Futures: further upside looks limited

Published date: 18 Sep. 2019 | 07:27

CME Group’s advanced data for GBP futures markets noted open interest and volume dropped by nearly 2K contracts and around 9.3K contracts, respectively, on Tuesday, extending the ongoing downtrend.

GBP/USD risks a deeper correction

Further gains in Cable looks unconvincing for the time being amidst shrinking open interest and volume. That said, immediate contention still emerges near 1.2300, coincident with the 55-day SMA, while rallies are expected to falter in the low-1.2500s.

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