GBP futures: still sidelined near term

CME Group’s preliminary figures for Monday’s open interest in GBP futures markets showed traders scaled back their positions by more than 2K contracts vs. Friday’s final 194,814 contracts.

Cable faces further consolidation, dips should be shallow

Open interest has been retreating for the last four sessions, while Cable's price action remained choppy following recent tops in the 1.3030 region. However, sellers remain unable to push spot below the mid-1.2800s for now and gains stayed capped by the 1.2980 area.