GBP futures: consolidative near term

In light of advanced data for GBP futures markets from CME Group, investors added more than 1.8K contracts to their open interest positions on Monday from Friday’s 187,821 contracts. In the same line, volume decreased significantly by almost 27K contracts.

GBP/USD holding on above 1.3500

Cable’s sideline theme remains poised to extend in the near term. The ongoing multi-session rangebound pattern has been accompanied by choppy activity in both open interest and volume, leaving the outlook unclear for the time being.