GBP Futures: negative view remains unchanged

According to advanced data for GBP futures markets from CME Group, open interest increased for yet another session on Monday, this time by almost 13K contracts, the largest single-day build so far this year. In the same line, volume rose by around 57.9K contracts.

GBP/USD door open for extra decline

Cable is already trading in 2-year lows in the mid-1.2100s at the time of writing, always on the back of the deteriorated scenario around Brexit. Rising open interest and volume leaves room for a deeper retracement that should meet the next support at 2017 lows at 1.1986 (January 16).