GBP futures: pullbacks appear tepid

In light of advanced data for GBP futures from CME Group, open interest dropped by nearly 1.9K contracts on Thursday from Wednesday’s 177,208 contracts. On the other hand, volume ticked higher by more than 10K contracts.

GBP/USD likely to move into consolidation

Cable seems to have found support in the 1.40 neighbourhood for the time being, looking to stabilize amidst choppy activity in both open interest and volume, leaving the door open for further consolidation at least in the short term horizon.