GBP/USD futures: downside mood accelerating

According to advanced data from CME Group for GBP futures markets, Thursday’s open interest rose by nearly 1K contracts vs. Wednesday’s 174,639 contracts. On the other hand, volume rose significantly by almost 64.7K contracts.

GBP/USD now eyes 1.3000

Cable is extending the downside well below the 1.3100 handle at the end of the week, posting at the same time multi-week lows and hinting at a potential visit to the psychological handle at 1.3000 the figure, as the drop was in tandem with a significant rose in volume.

As usual, GBP keeps navigating amidst uncertainty in the UK political arena, Brexit concerns and the likeliness of a potential rate hike by the BoE at the November meeting.