GBP futures: pullbacks remain tepid

CME Group’s preliminary readings of GBP futures markets showed investors trimmed their open interest positions by around 4.2K contracts on Wednesday from Tuesday’s final 206,109 contracts. This was the first drop since April 5. Volume followed suit, up by more than 8.5K contracts, recording the third build in a row.

GBP/USD: buy the dips?

Cable’s recent rally clinched fresh tops in the boundaries of 1.4380 on Tuesday, sparking a correction lower soon afterwards. Yesterday’s down move has been accompanied by a drop in open interest and a moderate build in volume, adding to the idea that occasional retracements should remain shallow.