GBP futures: scope for extra gains

CME Group’s preliminary figures for GBP futures markets noted open interest rose by around 17.3K contracts on Wednesday from Tuesday’s final 279,503 contracts, recording at the same time the second build in a row. Volume also expanded by almost 5K contracts.

GBP/USD targets 1.3100 and beyond

The rally in Cable was accompanied by rising open interest and volume amidst a weaker greenback and lack of fresh headlines from Brexit, allaying the way for a probable test of the 1.3100 handle and above in the short-term horizon.