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CME Group’s flash data for GBP futures markets noted investors added around 14.5K contracts on Thursday, reaching the second build in a row. In the same line, volume increased for the third consecutive session, this time by around 12.8K contracts.

GBP/USD: Door open for a deeper pullback

Cable remains under pressure following EU-UK trade jitters. Thursday’s negative price action was on the back of rising open interest and volume, allowing for the continuation of the leg lower to, initially, 2020 lows in the mid-1.2800s.