CME Group’s preliminary figures for GBP futures markets noted open interest decreased by around 4.2K contracts on Friday from Thursday’s final 192,216 contracts. In the same line, volume shrunk by nearly 119K contracts.
GBP/USD: an interim low in place?
Cable continues to extend its consolidative theme above the key barrier at 1.35 the figure today. Friday’s uptick was accompanied by lower open interest and volume, hinting at the likeliness that extra gains appear unlikely, in turn favouring further rangebound in the near term.
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