GBP futures: looking for a base?

In light of advanced data for GBP futures markets from CME Group, investors added just 546 contracts to their open interest positions on Thursday from Wednesday’s final 209,634 contracts. In the same line, volume increased by 21K contracts.

GBP/USD diminishing odds for a deeper pullback

Cable’s up move on Thursday was on the back of rising open interest and volume, signaling that the probability of extra downside has lost momentum for the time being. As always, the Sterling remains vigilant on the Brexit negotiations, while today’s US Payrolls would surely add an extra dose of volatility.