In light of CME Group’s advanced figures for GBP futures markets, investors scaled back their open interest positions by just 459 contracts on Monday vs. Friday’s final 170,674 contracts. In the same direction, volume dropped by the second day in a row, this time by around 31.8K contracts.
GBP/USD faces strong hurdle above 1.3300
Cable is sidelined in the upper 1.3200s for the time being against the backdrop of shrinking volume and open interest, removing at the same time some sustainability from occasional bullish attempts beyond the critical 1.3300 milestone. As usual, the Sterling will keep looking to the Brexit talks and uncertainty in the UK government for direction in the near to medium term horizon.
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