GBP futures: scope for extra gains

CME Group’s preliminary figures for GBP futures markets noted investors added around 3.7K contracts to their open interest positions on Monday, reaching the third build in a row. Volume, instead, dropped by nearly 29.5K contracts following two consecutive advances.

GBP/USD looks neutral/bullish, focused on Brexit

Cable is slowly extending its up move to the vicinity of the 1.3100 handle sustained by rising open interest, which initially allows for the continuation of the trend in the short-term. However, yesterday’s significant drop in volume adds some caution to this view.