GBP futures: rally could have further to go

Advanced data for GBP futures markets from CME Group showed open interest rose by just 722 contracts on Wednesday vs. Tuesday’s final 260,228 contracts. Volume followed suit, up by around 82.3K contracts, more than doubling the previous build.

GBP/USD set eyes on 1.31 and above

Cable’s sharp up move on Wednesday has been on the back of renewed optimism on the Brexit negotiations. Higher open interest as well as volume leaves the door open for a continuation of the upbeat sentiment and a potential visit to the 1.3100 neighbourhood in the near term.