Open interest in GBP futures markets shrunk for the second session in a row on Wednesday, this time by nearly 2.5K contracts according to flash data from CME Group. Volume, instead, advanced for another session, now by around 33.2K contracts.
GBP/USD room for some range-trading
Cable reacted with a drop to the mid-1.2100s after Boris Johnson suspended the UK Parliament, although it managed to stage a rebound afterwards. Declining open interest removes some strength of the down move, although increasing volume in the last couple of sessions warns over the potential for a correction lower in the near term.
Share
