GBP Futures: rally has further legs to go

Open interest in GBP futures markets rose again on Wednesday, this time by around 2.1K contracts according to flash data from CME Group. In the same line, volume went up by the second consecutive session, now by nearly 8.3K contracts.

GBP/USD on its way to 1.30?

The rally in Cable looks well and sound for the time being and remains well underpinned by rising open interest and volume. That said, and always on the back of positive Brexit headlines, GBP/USD is expected to remain bid and advance further in the short-term horizon.