GBP futures: potential rebound on the cards

Pablo Piovano FXStreet

Open interest in GBP futures markets shrunk by nearly 1.7k contracts on Friday vs. Thursday’s final 196,320 contracts, as per advanced figures from CME Group. In the same direction, volume decreased by around 48.6K contracts, prolonging the choppy performance.

GBP/USD decline looks contained

Cable looks to extend its consolidative note after bottoming out in the mid-1.2800s last week. Declining open interest and volume is also reinforcing the idea of a potential rebound in the short-term horizon.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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