CME Group’s advanced readings for GBP futures markets saw investors adding around 3.6K contracts to their open interest positions at the beginning of the week, printing the sixth consecutive build at the same time. In the same line, volume increased by nearly 7.8K contracts, reaching the third build in a row.
GBP/USD still targets 1.30 (and above)
The march north in Cable looks unabated and remains so far sustained by rising open interest and volume. Against this backdrop, a test of the critical barrier at 1.30 the figure in the near term appears quite likely.
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