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CME Group’s flash figures for GBP futures markets showed open interest decreased by almost 3.8K contracts on Monday from Friday’s final 197,979 contracts. In the same direction, volume dropped by around 46.7K contracts.

GBP/USD neutral near term, 1.3040 still on the horizon

Cable‘s choppy start of the week was on the back of diminishing open interest and volume, allowing for some continuation of the consolidative theme, although with another test of the 1.3040 region still on the cards.