GBP futures: scope for further pullbacks

In light of flash data from CME Group, open interest in GBP futures rose by more than 1.6K contracts on Friday, up from Thursday’s 213,711 contracts. Volume followed suit, up by nearly 7.3K contracts and reverting two consecutive declines.

GBP/USD stays bearish near term

The broader picture for Cable remains bearish for the time being, with Friday’s doji-like candle implying further unclear price action amidst choppy activity in volume and open interest.