GBP Futures: Further gains on the cards

CME Group’s flash data for GBP futures markets noted investors scaled back their open interest positions for the second session in a row on Monday, this time by almost 3K contracts. In the same direction, volume reversed two builds in a row and went down by around 5.8K contracts.

GBP/USD could attempt a move to 1.2500

Cable’s negative performance on Monday was accompanied by decreasing open interest and volume, signalling a limited downside and the probability of a rebound to, initially, the 1.2500 region.