GBP Futures: neutral/bearish near term

Open interest in GBP futures rose for the third session in a row on Wednesday, this time by just 249 contracts according to preliminary readings from CME Group. On the other hand, volume shrunk for the second consecutive day, now by around 13.6K contracts.

GBP/USD keeps the sideline mood unchanged

Cable keeps navigating within a consolidative fashion below the 1.2900 handle amidst choppy activity in both open interest and volume. That said, the ongoing rangebound scenario is expected to persist at least in the short-term horizon or until a strong catalyst turns up.