GBP futures: extra weakness on the cards

CME Group’s preliminary figures of open interest in GBP futures saw a small drop of more than 1.5K contracts on Monday to 258,122 contracts vs. Friday’s 259,684 contracts.

Pullbacks stay on the cards

Recent performance of traders via their open interest positions hints at further liquidation still remain on the pipeline, keeping unchanged the near term bearish stance and paving the way for Cable to re-visit recent lows in the 1.2630 region.