GBP futures: negative view unchanged

In light of CME Group’s preliminary figures for GBP futures markets, investors added more than 5.6K contracts to their open interest positions on Friday vs. Thursday’s final 194,456 contracts. On the other hand, volume decreased significantly by almost 36.4K contracts.

GBP/USD next target at 1.3266

Cable is seeing some rebound today in response to a soft note around the greenback. Friday’s close just below 1.3300 the figure has been on the back of rising open interest albeit volume dropped for the second session in a row allowing a slower pace in further retracements. The next target aligns at 1.3266, monthly tops seen in August 2017.