GBP Futures: Look consolidative near-term
CME Group’s flash data for GBP futures markets note investors added just 334 contracts to their open interest positions on Monday, reaching the third consecutive build. On the other hand, volume went down by 427 contracts, partially offsetting the previous build.
GBP/USD: Further rebound not ruled out
Cable’s uptick at the beginning of the week was accompanied by another - albeit small - build in open interest. That said, while a move higher cannot be ruled out in the short-term, the inconclusive activity in volume also favours some consolidation in the next sessions.
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