GBP Futures: extra gains look likely

CME Group’s flash readings for GBP futures markets noted investors added around 1.2K contracts to their open interest positions on Thursday, reaching the second build in a row. In addition volume went up by nearly 18K contracts, adding to the previous build.

GBP/USD looks for a test of 1.29 and above

Cable’s recovery on Thursday was accompanied by rising open interest and volume, hinting at the probability that the upside could extend further to, initially, the 1.2900 neighbourhood and beyond in the near term at least.