GBP futures: bearish note prevails

CME Group’s advanced data for GBP futures markets noted investors added almost 5.5K contracts to their open interest positions on Thursday vs. Friday’s 210,179 contracts. Volume followed suit, this time up by around 19.5K contracts, recording the third build in a row.

GBP/USD eyes on 1.3000 and below

Cable dropped for yet another session on Thursday amidst increasing volume and open interest, leaving the door open for the continuation of the down move which should find initial support in the 1.3000 neighbourhood. This area is reinforced by the 55-day SMA at 1.2994.