GBP futures: further consolidation on the cards

In light of advanced figures for GBP futures markets from CME Group, investors added around 6K contracts to their open interest positions on Tuesday from Monday’s final 213,403 contracts, clinching the third straight build. Volume followed suit, up by nearly 63K contracts and extending at the same time the choppy performance.

GBP/USD volatile and looking to Brexit

As expected, volatility around Cable has intensified as of late amidst rising uncertainty around the Brexit negotiation. This scenario is likely to continue for the foreseeable future, leaving the price action around GBP/USD as unclear.