GBP futures: rally has further legs

CME Group’s preliminary figures for GBP futures markets noted open interest rose by more then 8k contracts on Tuesday vs. Monday’s final 194,160 contracts. Volume followed suit and rose for the second day in a row, this time by around 107.7K contracts. It is worth noting that volume printed the largest YTD build, just surpassing 205K contracts.

GBP/USD in fresh 2019 highs

Cable has once again recorded fresh yearly highs near 1.3300 the figure on Tuesday on the back of USD-weakness and Brexit optimism. Against this backdrop, GBP/USD could advance further and target levels further north of the 1.3300 handle in the short-term horizon.