GBP futures: upside corrective near term

Latest figures for GBP futures markets published by CME Group saw investors added 740 contracts to their open interest positions on Thursday from Wednesday’s 179,023 contracts. In addition, volume increased by almost 23.2K contracts, reverting the previous drop.

GBP/USD room for a test of 1.3200

Cable’s upside in the second half of the week appears supported by increasing volume and open interest, opening the door for further gains and a potential re-visit to the critical 1.3200 up barrier.