GBP futures: looks vulnerable near term

In light of advanced figures from CME Group, investors scaled back their open interest positions by just 602 contracts on Friday from the previous session, clinching the seventh drop in a row. On the other hand, volume rose for the second consecutive day, this time by around 66.4K contracts.

GBP/USD under pressure around 1.30. Looks to Brexit votes

Cable is showing some signs of life amidst the recent sharp leg lower. While the persistent drop in open interest warns against the continuation of the downtrend, the recent significant build in volume does not rule out some extra weakness.