Home GBP futures: deeper pullback not ruled out

GBP futures: deeper pullback not ruled out

Updated: 24 May. 2018 | 10:17

In light of flash data for GBP futures markets from CME Group, open interest rose by more than 8K contracts on Wednesday vs. Tuesday’s final 186,517 contracts. Volume followed suit, recording the largest build since May 10 by more than 55.7K contracts.

GBP/USD still targets 1.3300

The decline in Cable remains well and sound for the time being. Yesterday’s drop has been in tandem with rising volume and open interest, opening the door for a continuation of the down move and a potential test of the next key support at 1.3300 the figure.

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

View all posts by FX Street

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.