GBP futures: extra gains seem unlikely

CME Group’s preliminary figures for GBP futures markets noted investors added just 171 contracts to their open interest positions on Monday vs. Friday’s final 228,571 contracts. On the other hand, volume dropped for the second day in a row, this time by nearly 48.5K contracts.

GBP/USD should remain Brexit-dependent

Cable’s recovery following last week’s sell off stays intact, although the cautious tone among traders is poised to prevail amidst ongoing volatility around Brexit developments. Another important drop in volume and choppy performance in open interest warns against the sustainability of further gains.