GBP Futures: further rangebound on the cards
|In light of flash data from CME Group for GBP futures markets, investors once again trimmed their open interest positions by around 3.2K contracts on Thursday, recording the second drop in a row. Volume followed suit and shrunk by around 14.5K contracts.
GBP/USD still capped by 1.2200
Cable is prolonging the multi-session sidelined theme, always below the key 1.2200 handle and amidst shrinking open interest and volume. That said, and while markets keep waiting for a stronger catalyst, GBP/USD looks quite comfortable within the current trading scenario.
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