GBP futures: bearish view unchanged

In light of advanced figures for GBP futures markets from CME Group, investors added nearly 2.9K contracts to their open interest positions on Thursday from Wednesday’s final 224,134 contracts. In the same line, volume rose by almost 11.7K contracts.

GBP/USD potential for a test of 1.2786

Cable keeps losing ground and is now facing a probable visit to May’s low at 1.2786. Thursday’s down tick was accompanied by shrinking open interest and volume, adding to the prevailing bearish view.