GBP Futures: rising odds for extra consolidation

Open interest in GBP futures markets rose by around 1.8K contracts on Wednesday according to advanced figures from CME Group. On the other hand, volume shrunk by nearly 25.1K contracts amidst erratic performance.

GBP/USD upside capped above 1.2700

Cable is extending the sideline theme below 1.2700 the figure so far today. The continuation of the current pattern in prices is likely on the back of unclear trends in both open interest and volume.