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Open interest in GBP futures markets rose by around 7.4K contracts on Thursday vs. Wednesday’s final 228,730 contracts. In the same line, volume rose for the third session in a row, this time by almost 56K contracts.

GBP/USD focused on 1.3100 and above

The upside momentum in Cable appears unabated so far today, extending the strong rebound amidst rising open interest and volume, which should reinforce the current price action. Immediate target emerges at the 1.3100 handle in the near term.