GBP Futures: gains look contained

CME Group’s flash data for GBP futures markets noted open interest shrunk for the second session in a row, although this time by just 205 contracts. In the same line, volume dropped by nearly 400 contracts.

GBP/USD approaching a key resistance zone

Cable continues its march north this week on the back of USD-selling. The upside, however, is nearing a key area of resistance in the mid-1.2700s, which could spark some retracements amidst shrinking open interest and volume.