GBP futures: up move poised to continue

CME Group’s preliminary figures for GBP futures markets noted open interest dropped by just 258 contracts on Wednesday from Tuesday’s final 261,700 contracts. Volume increased for yet another session, this time by nearly 13K contracts.

GBP/USD now eyes a test of 1.3000

Cable’s ongoing advance was on the back of rising volume and an irrelevant up tick in open interest, opening the door for a squeeze higher that could reach the psychological 1.3000 handle.