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CME Group’s advanced data for GBP futures markets noted open interest rose by around 3.5K contracts on Wednesday following four consecutive daily drops. Volume followed suit and also advanced by around 158.2K contracts, the largest single day build so far this year.

GBP/USD looks to Brexit for direction

Auspicious headlines from the Brexit front helped Cable to regain the boundaries of the 1.28 neighbourhood on Tuesday. Rising open interest and volume coupled with positive developments from the Brexit front should keep GBP/USD bid in the near term at least.