GBP futures: extra rangebound on the cards

Open interest in GBP futures markets shrunk by around 1.2K contracts on Thursday, recording the second drop in a row, according to preliminary readings from CME Group. In the same line, volume dropped for another session, this time by almost 31K contracts.

GBP/USD stays supported near 1.3000

Thursday’s negative performance in Cable was in tandem with declining open interest and volume, opening the door for a potential reversion in the very near term. That said, the area around the psychological support at 1.3000 the figure remains a tough nut to crack for GBP-sellers.