GBP Futures: Rebound in the offing?

CME Group’s advanced readings for GBP futures markets noted open interest rose for yet another session on Friday, now by just 286 contracts. In the same line, volume partially eroded the previous drop and rose by nearly 2K contracts.

GBP/USD stays capped by the 200-day SMA

Cable’s rebound at the end of last week was in tandem with rising open interest and volume, leaving the door open for a potential rebound in the short-term horizon. Against this, the key 200-day SMA in the mid-1.2600s emerges as the next hurdle of relevance.