GBP Futures: Recovery looks solid

Open interest in GBP futures markets increased for the third straight session on Tuesday, now by nearly 1.2K contracts, according to advanced readings from CME Group. In addition, volume extended the erratic performance and also rose by around 31.4K contracts.

GBP/USD testing the 200-day SMA

Cable’s recovery remains well and sound and it has already reached the boundaries of the key 200-day SMA above 1.2600 the figure. That said, and amidst rising open interest and volume, GBP/USD is seen extending the move up for the time being.