GBP Futures: Pullbacks lose traction

CME Group’s preliminary readings for GBP futures markets noted investors added just 172 contracts to their open interest positions on Thursday. On the flip side, volume dropped for the second session in a row, this time by nearly 5.5K contracts.

GBP/USD looks cautious

Cable’s daily pullback on Thursday was accompanied by a marginal uptick in open interest while volume descended for yet another session. That said, the likeliness of extra losses looks thin, while the recent area of YTD lows in the mid-1.2800s emerges as a solid support for the time being.