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Open interest in GBP futures markets dropped for the second session in a row on Thursday, this time by around 4.1K contracts vs. Wednesday’s final 223,399 contracts, according to CME Group advanced data. In the same line, volume shrunk by around 6K contracts.

GBP/USD: interim top near 1.3200?

Cable‘s recent up move to the vicinity of the 1.3200 handle was on the back of declining open interest and some choppy activity in volume, hinting at the likeliness that further decline could be in the pipeline along with the possibility that Wednesday’s peak could also be a short-term top.