GBP Futures: Upside looks limited
Investors scaled back their open interest positions for the fourth consecutive session on Monday, this time by around 4.7K contracts as per advanced figures from CME Group. Volume followed suit and went down by almost 34.8K contracts.
GBP/USD: Upside faltered near 1.2500
The upside momentum in Cable appears to have lost traction in the vicinity of the 1.2500 mark on Monday amidst declining open interest and volume. That said, the lack of follow through plus inconclusive price action could spark some correction/consolidation in the short-term horizon.