GBP Futures: scope for extra upside

In light of advanced data for GBP futures markets from CME Group, investors added nearly 1.8K contracts to their open interest positions on Wednesday, reversing the previous drop. Volume followed suit and increased by almost 16K contracts.

GBP/USD eyes a test of 1.30

Cable’s rebound on Wednesday was accompanied by positive activity in open interest and volume, hinting at the likeliness that the move up has further legs to go in the near-term. That said, a visit to 1.30 and probably above has returned to the investors’ radar.