GBP futures: downside seen gathering traction

According to CME Group, preliminary figures of open interest in GBP futures for last Friday showed traders added nearly 900 contracts vs. Thursday’s final 200,747 contracts.

Cable expected to deflate from tops

After reaching fresh highs in the 1.3030 region on Friday, GBP/USD has started the week on a negative footing, while the recent performance of open interest and prices opens the door for further pullbacks.