GBP Futures: Further upside likely

CME Group’s flash data for GBP futures markets noted open interest went up by 846 contracts following four consecutive daily drops. In the same line, volume rose by nearly 12.1K contracts amidst the prevailing erratic performance.

GBP/USD: Rising odds for a test of 1.2500

The weekly rebound in Cable appears to be gathering extra steam on the back of rising open interest and volume. That said, a potential test of the key hurdle at 1.2500 the figure should not be ruled out in the near term.