GBP futures: neutral/bullish near term

CME Group’s advanced data for GBP futures markets showed open interest shrunk by 836 contracts on Thursday vs. Wednesday’s final 212,426 contracts. Volume, instead, rose by nearly 6.1K contracts.

GBP/USD now targets 1.3300

Cable remains bid above the 1.3200 handle amidst choppy performance in open interest and volume. That said, while some consolidation is likely in the near term, a move to the 1.3300 handle should not be ruled out.