GBP futures: scope for extra downside

In light of flash data for GBP futures markets from CME Group, investors added more than 5.7K contracts to their open interest positions on Thursday from Friday’s final 235,908 contracts. In the same line, volume rose sharply by around 53.1K contracts, recording the fourth consecutive build.

GBP/USD eyes 1.3200

Cable faces increasing risks of further decline in the near term, as the recent strong correction lower has been on the back of rising open interest and volume, a clear bearish signal.