GBP futures: bearish trend intact

In light of CME Group’s preliminary figures, open interest in GBP futures markets increased by almost 3.1K contracts on Tuesday from Monday’s 213,447 contracts. Volume, on the other side, rose by nearly 15.5K contracts.

Cable in multi-week lows

GBP/USD has accelerated the downside towards the 1.2800 key support today, opening the door for further decline as yesterday’s drop in spot has been in tandem with increasing volume and open interest.