GBP futures: neutral/bearish near term

In light of advanced data for GBP futures markets from CME Group, open interest shrunk by around 2K contracts on Thursday vs. Wednesday’s final 264,669 contracts. Volume, instead, rose by almost 16.5K contracts.

GBP/USD extra rangebund likely

Cable’s fall on Thursday was accompanied by a drop in open interest and a moderate build in volume, opening the door for a continuation of the sideline theme following the robust bounce off last week’s YTD lows in the 1.2660 region.