GBP futures: upside still on the cards

Investors added nearly 1.6K contracts to their open interest positions on Tuesday vs. Monday’s final 208,980 contracts, according to flash data for GBP futures markets from CME Group. In the same direction, volume rose by around 43K contracts.

GBP/USD up move could test 1.3200

Cable continues its correction higher so far on Wednesday. Yesterday’s move was in tandem with rising both open interest and volume, a bullish sign that should open the door for a probable test of the 1.3200 neighbourhood.