GBP futures: upside limited near term

GBP futures markets noted open interest shrunk by nearly 2.2K contracts on Friday from Thursday’s final 230,425 contracts, according to advanced data from CME Group. In the same line, volume dropped significantly by almost 129.3K contracts.

GBP/USD keeps the cautious stance

Friday’s up move in Cable was on the back of declining open interest and volume, hinting at the likeliness that further gains could lack of sustainability for the time being. As always, Brexit remains the exclusive driver around the Sterling.