GBP futures: scope for further recovery

CME Group’s preliminary data for GBP futures markets noted investors added just 554 contracts to their open interest positions on Tuesday from the previous day. In the same line, volume partially reversed the prior drop and rose by around 19.5K contracts.

GBP/USD stays well supported near 1.3000

Cable’s positive performance on Tuesday was in tandem with increasing open interest and volume, opening the door for the continuation of the rebound from recent lows around the 1.3000 mark.