GBP futures: further rangebound likely

CME Group’s preliminary figures for GBP futures markets noted open interest increased by just 492 contracts on Tuesday from the previous session. Volume, instead, dropped for yet another session, this time by around 23.8K contracts.

GBP/USD cautious tone poised to persist near term

The inability of Cable to sustain a breakout of the 1.3300 handle and the subsequent consolidative performance is expected to remain in place at least in the near term amidst declining volume and choppy activity in open interest.