GBP futures: downside appears limited

Open interest in GBP futures markets rose by around 1.6K contracts on Monday from Friday’s final 208,466 contracts. On the flip side, volume dropped once again by around 21.7K contracts, all according to advanced figures from CME Group.

GBP/USD appears supported near 1.3100

Cable recent down move was accompanied by shrinking volume and a small build in open interest, extending the choppy performance seen in past sessions. GBP/USD is thus expected to extend the sideline theme for the time being, always vigilant on Brexit and the USD-dynamics.