In light of flash data from CME Group, investors trimmed their open interest positions by just 467 contracts at the end of last week, reversing two builds in a row. On the other hand, volume increased by 38.3K contracts following two consecutive pullbacks.
GBP/USD stays supported near 1.2950
Cable has come under pressure in the last sessions. Friday’s move was on the back of a small drop in open interest and a moderate uptick in volume, leaving the idea that deeper retracements are unlikely in the near-term, while some rangebound mood could turn up instead.