In light of flash data for GBP futures markets from CME Group, investors trimmed their open interest positions by almost 8K contracts on Wednesday from Tuesday’s final 191,692 contracts. In the same line, volume retreated by more than 2K contracts.
GBP/USD further decline not favoured
Recent choppy price action around Cable has been in tandem with declining both open interest and volume, allowing for a continuation of the multi-day consolidation around the critical 1.3500 the figure.
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