CME Group’s flash data for GBP futures markets showed investors trimmed their open interest positions by more than 1K contracts on Monday, recording the third consecutive drop. Volume, instead, reversed the previous drop and gained around 12.6K contracts.
GBP/USD looks to regain 1.30 and beyond
Diminishing open interest in combination with Monday’s down tick hints at the idea that further pullbacks in Cable look somewhat capped, supporting the view that a rebound to, initially, the 1.30 handle, could be in the offing.
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