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CME Group’s flash data for GBP futures markets noted open interest increased by around 3K contracts on Friday, while volume advanced more than 2.1K contracts.

GBP/USD now targets the 200-day SMA near 1.2960

Cable is bouncing off recent lows in the mid-1.2800s, regaining the 1.2900 handle and above amidst some weakness surrounding the greenback. Increasing open interest and volume should give support to a move higher which now targets the 200-day SMA in the 1.2960 region.