GBP Futures: further pullbacks remain on the cards

CME Group’s preliminary figures for GBP futures markets showed investors added nearly 3.6K contracts to their open interest positions, extending the uptrend for yet another session. In the same line, volume increased by around 11.2K contracts.

GBP/USD door open for a test of 2017 lows at 1.1985

The decline in Cable appears to have met some initial contention in the 1.2120 region. However, rising open interest and volume signals that fresh sellers are entering the market and could drag GBP/USD to a potential visit to 2017 lows in sub-1.2000 levels.