GBP futures: downside accelerated below 1.40

In light of CME Group’s preliminary figures for GBP futures markets, open interest decreased by more than 500 contracts on Wednesday against Tuesday’s 216,402 contracts. In the same line, volume went down considerably by more than 52K contracts.

GBP/USD cautious ahead of BoE

The current weekly leg lower in Cable has gathered further traction after the recent breakdown of the psychological support at 1.40 the figure. Rising volume and declining prices is a bearish sign, although yesterday’s drop in volume and practically steady open interest begs some caution ahead of the BoE’s Super Thursday.