GBP futures: deeper pullback not ruled out

In light of flash data for GBP futures markets from CME Group, open interest rose by more than 8K contracts on Wednesday vs. Tuesday’s final 186,517 contracts. Volume followed suit, recording the largest build since May 10 by more than 55.7K contracts.

GBP/USD still targets 1.3300

The decline in Cable remains well and sound for the time being. Yesterday’s drop has been in tandem with rising volume and open interest, opening the door for a continuation of the down move and a potential test of the next key support at 1.3300 the figure.