GBP futures: upside expected to lose traction

CME Group’s flash figures of GBP futures markets noted open interest dropped by almost 1.5K contracts on Wednesday from Tuesday’s final 191,590 contracts. In the same direction, volume dropped by around 3.7K contracts

GBP/USD upside looks choppy

Cable’s up move to fresh multi-day tops around the 1.3200 handle was on the back of shrinking volume and open interest, removing some tailwinds for an extended recovery while at the same time leaving the attention still on the mid-1.3000s for the time being.