GBP futures: further downside on the cards

Advanced figures for GBP futures markets showed investors added around 4.7K contracts on Tuesday from Friday’s final 257,057 contracts, according to CME Group. In the same line, volume increased for the second session in a row, this time by 74.8K contracts.

GBP/USD targets 1.2660

Cable is falling for yet another session today amidst rising open interest and volume. This bearish scenario opens the door for another visit to YTD lows in the 1.2660 region. As always, Brexit jitters and the persistent uncertainty and lack of decision from May’s government continues to weigh on the Sterling.