GBP Futures: extra losses appear unlikely

Open interest in GBP futures markets shrunk by around 10.8K contracts on Monday following two consecutive daily builds. In the same line, volume went down by around 33.4K contracts, according to flash data from CME Group.

GBP/USD stays positive above the 200-day SMA

Cable’s corrective downside appears to have met decent contention in the 1.28 negihbourhood for the time being against the backdrop of shrinking open interest and volume. That said, while above the key 200-day SMA, today at 1.2711, the positive view on the pair should remain unchanged.