GBP futures: extra consolidation likely

Pablo Piovano FXStreet

Advanced figures for GBP futures markets from CME Group noted investors added more than 1K contracts to their open interest positions on Tuesday, while volume extended the choppy performance, rising by around 41.2K contracts.

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Cable inconclusive session on Tuesday was on the back of rising both open interest and volume, opening the door for extra consolidation in the near term. That said, the 200-day SMA around 1.2970 is still expected to contain any selling attempt.

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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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