Open interest in GBP futures markets went down for another session on Monday, this time by more than 6K contracts according to advanced figures from CME Group. On the other hand, volume reversed two daily pullbacks in a row and rose by just 324 contracts.
GBP/USD meets a tough barrier around 1.30
Cable‘s price action lacked of direction on Monday amidst declining open interest and a small uptick in volume. While Brexit headlines are expected to keep the flow of volatility intact for the time being, the 1.30 region emerges as a strong barrier for GBP-bulls in the near term.
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