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One-month risk reversals on GBP/USD, a gauge of calls to puts, has extended the recent drop to fresh two-month lows as investors continue to add bets to position for weakness in Sterling. 

According to data source Reuters, the metric is currently trading at -2.125 in favor of GBP puts – the lowest level since Sept. 24 – versus -0.90 on Sept. 17. 

The negative number is the result of put options (bearish bets) drawing higher demand than calls (bullish bets). 

GBP/USD is currently trading near 1.3336, having faced rejection near 1.34 last week.