GBP futures: appears consolidative near term

Advanced figures for GBP futures markets from CME Group saw invetors added around 2.1K contracts to their open interest positions on Tuesday vs. Monday’s final 187,971 contracts. Volume followed suit, up by almost 69.4K contracts.

GBP/USD: 2018 low at 1.3457 still holds

Cable appears to consolidate in the current lower bound of the recent range above the 1.3500 handle. Yesterday’s test of session lows has been quickly reverted amidst increasing volume and open interest, adding to the idea that a test of the mid-1.3400s seems unlikely for the time being.