Advanced figures for GBP futures markets from CME Group noted open interest shrunk for the second session in a row on Monday, this time by almost 3K contracts, vs. Friday’s final 230,306 contracts. In the same line, volume decreased by nearly 10.9K contracts.
GBP/USD keeps looking to Brexit for direction
Cable‘s positive performance at the beginning of the week was on the back of shrinking open interest and volume, indicating that the underlying up move could be running out of steam. The 1.3100 area, however, remains the immediate target.