CME Group’s flash data showed investors added around 3.6K contracts to their open interest positions on Monday. Volume, instead, reversed the previous build and shrunk by around 37.5K contracts.
GBP/USD: Scope for a move below 1.30
Cable’s negative price action on Monday was accompanied by rising open interest and a decline in volume. That said, while some consolidation is probable in the short-term horizon, a drop and test of sub-1.30 levels should not be discarded for the time being.