GBP futures: scope for extra gains

Pablo Piovano FXStreet

CME Group’s flash data for GBP futures markets noted open interest advanced for yet another session, this time by around 3K contracts on Friday. In the same direction, volume increased by around 10.7K contracts amidst the prevailing choppy activity.

GBP/USD appears supported near 1.2600

Cable has recently bottomed out in the 1.2600 neighbourhood and could now see some continuation of the rebound, all sustained by rising open interest and volume.

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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