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CME Group’s advanced data for GBP futures markets noted investors scaled back their open interest positions by just 59 contracts on Monday from Friday’s final 226,971 contracts. Volume followed suit, declining markedly by around 89.7K contracts.

GBP/USD vigilant on Brexit

Cable’s indecisive price action yesterday was in tandem with shrinking open interest and volume, allowing for the continuation of the consolidation and always dependent on Brexit headlines. October’s lows near 1.2700 the figure remains the immediate target.