GBP futures: decline could take a break

Open interest in GBP futures markets rose by just 480 contracts on Wednesday vs. Tuesday’s final 196,616 contracts, as per advanced figures from CME Group. On the other hand, volume decreased by around 16.9K contracts.

GBP/USD dips appear shallow

Cable’s recent retracement was accompanied by a small gain in open interest and shrinking volume, hinting at the likeliness that further downside remains in the pipeline although it could be contained in lower levels.