GBP Futures: Scope for a near-term bounce

Open interest rose for the second straight session on Tuesday, now by around 1.8K contracts as per flash data from CME Group. In addition, volume ticked higher by around 12.2K contracts, partially reversing the previous drop.

GBP/USD: Further rangebound stays on the cards

Cable’s ephemeral dip and rebound from sub-1.30 levels was amidst rising open interest and volume. That said, the probability of a rebound in the short-term horizon stays intact, although it should remain well within the prevailing consolidative theme.