GBP Futures: Further upside loses traction

In light of advanced data from CME Group for GBP futures, open interest dropped by just 475 contracts on Wednesday while volume rose by more than 18K contracts after three consecutive pullbacks.

GBP/USD stays focused on 1.2000

Cable’s weekly upside lost some traction in the 1.1880 region on Wednesday amidst erratic performance in open interest and volume. That said, some consolidation now emerges on the cards, although the pair’s initial target stays at the 1.20 mark.