GBP Futures: upside looks limited
CME Group’s flash data for GBP futures markets showed investors trimmed their open interest positions and volume by just 143 contracts and around 3.5K contracts, respectively, on Thursday.
GBP/USD: correction lower in the offing?
Cable’s positive price action on Thursday was in tandem with shrinking open interest and volume, showing that short covering mainly fuelled the move up. That said, a corrective pullback should not be surprising in the short-term horizon.