GBP futures: scope for extra gains

Open interest in GBP futures markets increased by around 6.6K contracts on Tuesday vs. Friday’s final 196,489 contracts, according to advanced figures from CME Group. Volume followed suit and clinched the second build in a row, this time by around 83.1K contracts.

GBP/USD now looks to 1.3200

Cable’s rally remains well and sound amidst rising open interest and volume. The up move could pick up further pace in the near term, with the next hurdle aligning at YTD highs just beyond 1.3200 the figure.