GBP futures: further rangebound likely

In light of Friday’s preliminary figures published by CME Group, open interest in GBP futures markets decreased by almost 400 contracts vs. Thursday’s final reading, while volume rose significantly by almost 30.7K contracts.

GBP/USD sidelined around 1.3000

The activity in GBP futures markets remains choppy, while Cable appears consolidative around 1.3000 the figure since the rejection from fresh cycle peaks near 1.3270. Decent contention should stay around 1.2930, while gains remain so far limited around 1.3030/50.