GBP futures: neutral/bearish near term

According to flash data in GBP futures provided by MCE Group, open interest rose by just 82 contracts on Tuesday vs. Monday’s final 177,965 contracts. Volume followed suit, up by more than 1.2k contracts.

GBP/USD still capped by 1.3200

Cable remains poised to extend the consolidation theme in the near term, with the upside so far limited by the vicinity of the 1.3200 handle, where converge recent tops and the 21- and 55-day sma, all amidst non-relevant activity in both open markets and volume.