GBP Futures: Door open for extra gains

Pablo Piovano FXStreet

In light of flash data for GBP futures markets from CME Group, investors added almost 8K contracts to their open interest positions on Thursday, clinching the sixth straight build. In the same line, volume reversed three consecutive drops and increased by around 64.8K contracts, the largest build since January 30^th.

GBP/USD could extend the move to 1.3200

Cable rose sharply on Thursday after PM B.Johnson reshuffled his cabinet. That said, and against the backdrop of rising open interest and volume, the pair could attempt a visit to monthly tops in the vicinity of 1.3200 the figure in the short-term horizon.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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