GBP futures: rallies to stay limited
|Open interest in GBP futures markets dropped by around 2.1K contracts on Friday vs. Thursday’s final 259,003 contracts, according to preliminary figures from CME Group. On the other hand, volume rose by more than 15K contracts, partially offsetting the previous sharp drop.
GBP/USD at the mercy of Brexit
Cable opened with a gap lower today following rising uncertainty around Brexit and May’s government. Friday’s down move was amidst decreasing open interest despite a build in volume. In the very near term, GBP/USD is seen sidelined, although further weakness on Brexit headlines could certainly weigh on sentiment.
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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.