GBP Futures: remains sidelined near term

In light of advanced readings for GBP futures markets from CME Group, investors added around 1.9K contracts to their open interest positions on Tuesday, reaching the second build in a row. On the other hand, volume shrunk by around 6.6K contracts, prolonging the erratic performance.

GBP/USD faces extra consolidation, still below 1.30

Cable appears to have met strong resistance in the upper-1.2800s for the time being. Both volume and open interest lack of a clear direction, leaving the consolidative scenario unchanged at least in the near term.