GBP futures: direction remains unclear

CME Group’s advanced figures for GBP futures markets noted open interest rose for the third consecutive day on Friday, this time by just 167 contracts. Volume, in the same line, rose by around 51.3K contracts, reversing the previous drop.

GBP/USD stays supported around 1.3000

Friday’s inconclusive performance in Cable was on the back of rising open interest and volume, allowing for some extra consolidation in the short term while pullbacks appear contained by the key 1.30 area and the 200-day SMA at 1.2987.