GBP futures: bearish mood unchanged

In light of flash data provided by CME Group, traders scaled back their positions in open interest by a marginal 217 contracts on Monday, down from Friday’s 213,827 contracts. Volume decreased significantly by almost 30K contracts.

GBP/USD door open for further decline

Cable met a wave of selling pressure after a brief test of levels beyond 1.2900 the figure at the beginning of the week. In addition, recent scarce activity in open interest coupled with yesterday’s important drop in volume leaves little hope of a more sustained recovery for the time being.