GBP futures: decline running out of steam?

CME Group’s preliminary figures for GBP futures markets saw open interest declining for the second day in a row, this time by more than 4.6K contracts on Wednesday vs. Tuesday’s final 202,693 contracts. Volume followed suit, dropping by almost 4K contracts.

GBP/USD further downside at odds

The continuation of the downtrend in Cable appears unlike so far today, as open interest and volume kept decreasing along with prices, all indicative that a potential reversion of the trend remains well on the cards.

All the attention, however, will be on the Brexit negotiations and the upcoming EU Sumit next week.