GBP futures: further upside not ruled out

According to preliminary figures from CME Group, open interest in GBP futures markets increased by more than 1.7K contracts on Tuesday vs. Monday’s final 209,352 contracts. In the same direction, volume rose by nearly 5.4K contracts.

GBP/USD could attempt a move to 1.3300

Cable’s advance beyond 1.3200 the figure on Tuesday was accompanied by rising open interest and volume, although it closed the day in the middle of the daily range. That said, there is still scope for GBP/USD to attempt a run to September’s peak just below 1.3300 the figure.