GBP futures: neutral with caution

Advanced figures for GBP futures from CME Group noted investors added around 1.5K contracts at the beginning of the week vs. Friday’s final 153,763 contracts. In the same line, volume went up by just 206 contracts.

GBP/USD flirts with the 200-day SMA

Cable’s pullback on Monday was on the back of rising both open interest and volume, opening the door for the continuation of the leg lower. However, the moderate downtrend in volume could prompt some consolidation around current levels while the ley 200-day SMA in the 1.2960 region should offer decent contention.