GBP futures: extra upside unsustainable

CME Group’s advanced figures for GBP futures markets showed investors decreased their open interest positions by near 2.6K contracts on Friday from Thursday’s 173,878 contracts. Volume followed suit, down by around 46.4K contracts.

GBP/USD faces tough resistance beyond 1.3300

Friday’s up move in Cable beyond the 1.3300 milestone and the subsequent correction lower has been in tandem with diminishing open interest and volume, reinforcing the idea that moves further north of 1.330 the figure would require stronger fundamental.