GBP futures: rising odds for a move lower

Advanced figures for GBP futures markets from CME Group noted investors trimmed their open interest positions by around 2.6K contracts on Friday, the second consecutive drop. In the same direction, volume decreased for the third session in a row, this time by nearly 132.9K contracts.

GBP/USD door open for a test of 1.3200 and below

Cable’s uptick on Friday was on the back of declining open interest and volume, opening the door for a continuation of the correction lower to recent lows in the 1.3200 area and even 1.3180, where emerges the 10-day SMA.