GBP futures: neutral near term

According to flash figures from CME Group for GBP futures markets, open interest rose by almost 10K contracts on Monday from Friday’s 243,491 contracts. Volume followed suit, up by around 34.1K contracts and reverting the previous drop.

GBP/USD further upside not ruled out

Cable is up for the first time after two consecutive daily pullbacks on Tuesday. The up tick comes in tandem with rising open interest and volume, which is a bullish sign and indicates that further recovery could still be in the pipeline.