GBP futures: cautious ahead of Brexit vote
Open interest in GBP futures markets dropped by around 2.5K contracts on Tuesday from Monday’s 212,424 contracts, according to preliminary data from CME Group. On the other hand, volume increased by more than 3.1K contracts following three drops in a row.
GBP/USD upside limited near 1.2800
The recent up move in Cable appears to have found strong resistance just below 1.2800 the figure. Choppy activity in open interest prompts some consolidative trading in the near term, always looking to developments in the Brexit negotiations.