GBP Futures: still room for extra upside

Pablo Piovano FXStreet

CME Group’s flash data for GBP futures markets noted open interest increased for the second session in a row on Wednesday, now by just 364 contracts. Volume, instead, decreased by around 88.6K contracts following two consecutive builds.

GBP/USD: a test of 1.2300 and above is not ruled out

Cable strong rebound on Wednesday was accompanied not only by positive Brexit headlines but also by another build in open interest. Despite the drop in volume was significant, further upside to the area of recent tops beyond 1.23 the figure should remain on the table for the time being.

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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