GBP futures: correction lower likely?
In light of advanced data for GBP futures from CME Group, investors added just 421 contracts to their open interest positions on Monday vs. Friday’s final 213,020 contracts. On the other hand, volume dropped by around 26.5K contracts, keeping the choppy activity in place so far.
GBP/USD only Brexit matters
Cable’s march north remains well and sound against the backdrop of tepid performance from open interest and alternating volume, which should leave the near term outlook directionless and with all the attention on today’s Parliamentary vote on Brexit.