According to preliminary figures for GBP futures markets from CME Group, investors trimmed their open interest positions by just 633 contracts on Wednesday from Tuesday’s final 235,704 contracts. Volume followed suit, down by 80K contracts after three consecutive daily builds.
GBP/USD focused on Brexit vote next week
Cable is expected to remain within a broad cautious tone always looking to Brexit developments and the crucial vote in the House of Commons on December 11. Wednesday’s indecisive price action was on the back of declining open interest and volume.
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