GBP futures: liquidation non-stop

CME Group’s flash figures for GBP futures markets saw open interest advancing marginally by just 35 contracts on Wednesday vs. Tuesday’s 174,867 contracts. On the other hand, volume dropped significantly by more than 24.5K contracts, the third decrease in a row.

GBP/USD bearish view unchanged

Cable is dropping uninterruptedly since last Friday, shedding almost three big figures since last Thursday’s top near 1.3460. The broad scenario remains unchanged however, where liquidation of long positions are still in full play, as shown by declining volume, prices and open interest.

GBP, in the meantime, is expected to remain under pressure amidst increasing political uncertainty in the UK and the lack of significant advances in Brexit talks.