GBP futures: absence of clear direction

In light of preliminary data for GBP futures markets from CME Group, traders added more than 2.2K contracts to their open interest positions on Monday vs. Friday’s 193,102 contracts. In the same line, volume increased by nearly 7.9K contracts, reverting three consecutive sessions with falling volume.

GBP/USD rallies capped below 1.41

Cable's doji-like candles on Friday and Monday have been on the back of steady (albeit slowly rising) open interest and choppy activity in volume. That said, this leaves the door open for some extra consolidation in spot in the near term at least, with Brexit and UK political uncertainty always poising the immediate challenges for the Sterling.