GBP Futures: extra upside looks short-lived

CME Group’s flash figures for GBP futures markets noted investors trimmed their open interest positions by almost 5.6K contracts on Thursday. On the other hand, volume rose by around 46.8K contracts, reversing the previous drop.

GBP/USD still remains under pressure

Cable’s rebound yesterday carries the potential to extend a tad further in the very near term although it should stay limited eventually, all amidst declining open interest. Brexit concerns and uncertainty in UK politics keep weighing on the Sterling for the time being.