GBP Futures: Further downside on the cards
CME Group’s flash data for GBP futures markets noted investors added around 7.2K contracts to their open interest positions at the beginning of the week, clinching the sixth build in a row. Volume, instead, shrunk for the second day in a row, this time by around 62.6K contracts.
GBP/USD faces extra downside risks
Monday’s negative performance in Cable was accompanied by rising open interest, which suggests that a deeper retracement could be in the pipeline. However, the recent drop in volume could spark some consolidation ahead of further losses.