GBP Futures: rebound in the offing?

Open interest in GBP futures markets went down by nearly 2.5K contracts on Tuesday according to flash data from CME Group. In the same line, volume dropped by almost 3K contracts.

GBP/USD stays capped by 1.30

Cable’s negative start of the week was on the back of declining open interest and volume, which should allow for a near-term rebound and another potential visit of the vicinity of 1.30 the figure. Further downside, however, carries the potential to extend to the 1.2770 region.