GBP futures: dips appear shallow

CME Group’s advanced figures for GBP futures noted open interest rose by almost 4.4K contracts on Thursday from the previous day. In the same line, volume rose for the second session in a row, this time by more than 39K contracts.

GBP/USD supported around 1.3000

Choppy trade prevails around Cable pari passu with increasing uncertainty around the Brexit negotiations. Yesterday’s rebound from the 1.3000 region was in tandem with rising open interest and volume, adding to the view that this area still represents a solid contention.