GBP Futures: Further rangebound in the pipeline

CME Group’s advanced readings for GBP futures markets noted investors increased their open interest positions for the third session in a row on Thursday, now by around 2.8K contracts. In the same line, volume prolonged the choppy trade and rose by around 8.2K contracts, partially reversing the previous drop.

GBP/USD remains capped by 1.2650

Cable charted an inconclusive session on Thursday amidst rising open interest and volume, leaving the door open for extra consolidation in the short-term horizon and always below the key 200-day SMA in the mid-1.2600s.