GBP futures: upside remains limited

In light of preliminary data for GBP futures markets from CME Group, investors added nearly 3.1K contracts on Friday vs. Thursday’s 198,581 contracts. In the same line, volume increased by almost 3K contracts, recording the third consecutive build at the same time.

GBP/USD strong support at 1.3770

Cable is advancing for the second session in a row today, adding to Friday’s gains above 1.3800 the figure. The up move has been on the back of rising both open interest and volume, albeit by irrelevant levels, leaving extra gains still capped by the 1.4070 region while strong support emerges in recent lows near 1.3770.