GBP futures: upside corrective near term

Investors added just 417 contracts to their open interest positions in GBP futures markets on Tuesday vs. Monday’s 185,192 contracts, all according to advanced data provided by CME Group. In the same direction, volume rose by more than 18.5K contracts.

GBP/USD interim resistance emerges at 1.3338

Cable’s daily up move on Tuesday was accompanied by a marginal increase in open interest, reverting the previous drop, while volume rose by relevant figures, somewhat underpinning the climb in spot.

Looking ahead, the BoE event on Thursday and Brexit headlines should stay as the main catalysts of the pair’s price action in the near to medium term.