GBP futures: bearish scenario unaltered

Advanced data for GBP futures markets showed open interest rose by just 528 contracts on Friday from Thursday’s final 206,152 contracts, according to CME Group. On the other hand, volume dropped significantly by around 58K contracts.

GBP/USD targets fresh 2018 lows

Cable continues its march south at the beginning of the week, threatening to break below yearly lows in the mid-1.2900s. Friday’s down move was accompanied by a small up tick in open interest, although the important drop in volume could limit the speed of occasional pullbacks somewhat.