GBP futures: extra losses unlikely

In light of CME Group’s preliminary data for GBP futures markets, investors added nearly 3.8K contracts to their open interest positions on Thursday from Wednesday’s final 194,033 contracts. On another direction, volume shrunk by around 16.6K contracts.

GBP/USD appears well supported around 1.2800

Cable is struggling for direction at the end of the week, although the 1.2800 handle continues to hold the downside amidst erratic performance in open interest and volume.