CME Group’s preliminary figures for GBP futures markets showed investors trimmed their open interest positions by almost 58.5K contracts on Wednesday, the biggest drop so far this year. Volume followed suit and shrunk by nearly 1.1K contracts.
GBP/USD eyes 1.2500 and beyond
Cable keeps the trade on a choppy fashion although in the upper end of the recent range. Wednesday’s pullback was in tandem with declining open interest and volume, which allows for a potential move higher to re-visit the 1.2500 region and probably above.
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