GBP Futures: further rangebound on the cards

In light of flash data from CME Group for GBP futures markets, investors once again trimmed their open interest positions by around 3.2K contracts on Thursday, recording the second drop in a row. Volume followed suit and shrunk by around 14.5K contracts.

GBP/USD still capped by 1.2200

Cable is prolonging the multi-session sidelined theme, always below the key 1.2200 handle and amidst shrinking open interest and volume. That said, and while markets keep waiting for a stronger catalyst, GBP/USD looks quite comfortable within the current trading scenario.