GBP Futures: extra losses remain on the cards

CME Group’s flash data for GBP futures markets noted investors added around 9.1K contracts on Monday, reaching the fourth consecutive build. In the same line, volume went up for yet another session, this time by almost 6.9K contracts.

GBP/USD still targets the 1.2560 region

The negative price action in Cable on Monday was in tandem with rising open interest and volume. Against this bearish sign, GBP/USD is expected to extend the leg lower with immediate target at June low in the 1.2560 area.