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CME Group’s advanced figures for GBP futures markets noted open interest dropped by just 124 contracts on Friday vs. Thursday’s final 230,170 contracts. On the other hand, volume increased by nearly 10K contracts.

GBP/USD a test of 1.2700 stays on the cards

Cable is recovering the shine after two consecutive daily pullbacks. Friday’s retracement was in tandem with a small drop in open interest and a moderate build in volume, allowing for the continuation of the sideline theme for the time being while remaining vigilant on Brexit developments.