GBP Futures: further consolidation on the cards

CME Group’s flash data for GBP futures markets noted investors added just 965 contracts to their open interest positions on Wednesday, prolonging the recent choppy activity. On the other hand, volume went down by around 47.4K contracts following two consecutive daily builds.

GBP/USD appears sidelined looking to Brexit

Cable is stuck in the 1.23 neighbourhood amidst inconclusive direction in both open interest and volume. That said, further consolidation is thus likely at current levels, always looking to developments coming from the Brexit front.