GBP futures: potential rebound in the cards

Open interest in GBP futures markets shrunk for the third session in a row on Monday, this time by more than 3K contracts from Friday’s final 199,061 contracts, as per advanced data from CME Group. In the same line, volume went down for yet another session, shrinking by nearly 42K contracts.

GBP/USD exclusively focused on Brexit

Cable is prolonging the rejection from last week’s 2019 tops beyond 1.3300 the figure. However, declining prices coupled with decreasing open interest and volume carries the potential to spark a U-turn, which could well be triggered by positive headlines from the Brexit negotiations.