GBP Futures: room for further downside

CME Group’s advanced figures for GBP futures markets noted open interest increased for the fifth consecutive session on Tuesday, this time by around 2.1K contracts. On the opposite side, volume went down by more than 1K contracts after three builds in a row.

GBP/USD targets the 1.2560 region… and below

The leg lower in Cable appears to have further to go on the back of rising open interest and despite the marginal drop in volume. That said, May lows near 1.2560 remains as the next target ahead of June lows near 1.2500 the figure.