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According to advanced figures from CME Group, investors trimmed their open interest positions by almost 2K contracts on Monday from the previous day. In the same line, volume shrunk for the second consecutive session, this time by around 21.3K contracts.

GBP/USD stays cautious on Brexit

Cable has started the week on a negative mood although declining prices in combination with shrinking open interest and volume opens the door for a potential a U-turn in the near term. As always, price action will exclusively hinges on developments from the Brexit negotiations.