GBP Futures: extra losses not ruled out

CME Group’s advanced figures for GBP futures markets noted investors added just 241 contracts to their open interest position at the end of last week, reversing two pullbacks in a row. In the same line, volume rose by around 13K contracts following three consecutive drops.

GBP/USD seen holding on around 1.30

Cable is adding to Friday’s decline amidst rising open interest and volume. That said, while further downside remains on the cards, the 1.30 region is expected to remain a key magnet in the near-term.