GBP Futures: extra gains look limited

CME Group’s flash data for GBP futures markets noted investors trimmed their open interest positions by just 24 contracts on Friday, recording the second drop in a row. Volume, in the same line, decreased by another session, now by almost 28K contracts.

GBP/USD could retest the 1.2450 region

Cable’s recovery appears threatened by declining open interest and volume, which carries the potential to trigger another visit to recent lows in the 1.2450 region in the short-term horizon.