GBP futures: recovery picks up pace

Advanced figures for GBP futures markets showed open interest declining by more than 1.1K contracts on Thursday vs. Wednesday’s final 190,152 contracts. It is worth noting that open interest retreated in 9 out of the last 10 sessions. Volume followed suit, down by more than 33.2K contracts and partially reverting the previous build.

GBP/USD door open for 1.4345

Similarly to the rest of the riskier assets, Cable has been trading with gains since Monday, gaining more than 3 cents despite declining open interest and choppy activity in volume. The up move has cleared the path for a probable test of 2018 tops near 1.4350 in case the resistance line, today at 1.4165, is cleared in the near term.