GBP futures: upside corrective near term

CME Group’s preliminary figures for GBP futures markets noted open interest rose by just 170 contracts on Friday from Thursday’s final 178,255 contracts. Volume followed suit, up by around 46.2K contracts.

GBP/USD well supported near

Cable is gaining ground for the second session in a row on Monday. Friday’s small advance has been in tandem with a small increase in open interest and a moderate gain in volume, which could allow for an extension of the recovery in the short term horizon.